According to the California Association of Realtors this week Home sales decreased 29.8 percent in January in California compared with the same period a year ago, while the median price of an existing home fell 21.9 percent. What does this mean to the average consumer?. Their home is worth less today than it was last year. What does it mean to the home buyer in California? More choices and better prices. These stats bring up the Realtor cocktail hour question of 2007/2008 -- when will the market hit bottom? It's like asking 12 economists their opinion on the market getting back 23 opinions... My guess is 2008 but then again I thought the Patriots would win the Super Bowl.