The SoCal housing market is cooling. Here’s how far prices have fallen

June saw a little decline in both home prices and sales in Southern California compared to the previous month, which is more proof that home values are beginning to fall as a result of the housing downturn.

The numbers, which DQNews posted on Tuesday, show that the median home price in Southern California's fiercely competitive housing market fell for the first time since January.

Half of the residences sold for more and half for less at the median price.

The six-county region's median sale price fell from $760,000 in May to $750,000.

A larger perspective, however, reveals that prices are still rising in comparison to last June, when the median price was $709,000.

Even still, the decrease is a little unexpected. Despite the fact that summer is often when median prices peak.

According to DQNews data, the average increase from May to June was 1.78 percent during the previous ten years. Prices last decreased from May to June in 2010.

In the meantime, home sales decreased month over month but fell drastically year over year, according to DQNews.

A total of 20,289 residences were sold in June as opposed to 27,143 in June of the prior year, a 25.3 percent decrease.