Home prices in California tumbled 32 percent in the month of April when compared to the year earlier.

The California Association of Realtors said that “distressed” properties and a lack of available financing has reduced demand and has pushed the median price for existing homes to $403,870.

Prices declined by double-digits when compared year-over-year in all 21 regions measured in the report, CAR said.

However, the number of sales increased 2.5 percent putting an end to a 30-month streak of monthly home price decreases, when compared year-over-year, the association said.

Homes priced under $500,000 accounted for 64 percent of sales in the state compared

with 40 percent last year.

In Los Angeles County, prices rose a sight 0.3 percent in April compared to March while year-over-year they plunged 27 percent. Sales gained 23 percent month-to-month and 3.3 percent year-over-year.