Home prices throughout California and in the Las Vegas area fell from a year earlier in May as a glut of foreclosed property pushed down the value of single- family houses and condominiums.

The median price for an existing, single-family detached house in California declined 30% to $267,570, the California Association of Realtors said today in a statement. In the Las Vegas area, the median price for houses and condominiums fell 44% to $135,000, San Diego-based MDA DataQuick said in a separate statement today.

bloomberg.com