L.A. Times: Regional home prices grow at sluggish pace

There isn't much new in this December 14 story by Annette Haddad that we didn't already mention. But I like to keep track of these stories to see how we are progressing along in our psychological milestones.

This article differs from the previous day's article when it state that 20,388 homes were sold in the six-county region. The previous day's story reported that 22,117 homes were sold.

The article acknowledges that November is a slow month for real estate. However, it characterizes the slowness in the southern California markets as a sign the market is "settling down." Experts state that decelerating prices and sales mean the market is looking to "reestablish its footing" after such a multi-year surge. The experts still deny the possibility of a more serious downturn.

However, some experts acknowledge that during the bull run, buyers priced in future gain, but now buyers are pricing in the possibility that values can and will decline.

Here is the same table from yesterday, with sales figures added.

                   % change     Median    % change
        Number of    from       price       from
County               homes sold   year ago  ($1000)    year ago
San Bernardino       2,926        -26.7      $380      +8.6%
Riverside            3,794        -35.7       426      +5.2
Los Angeles          7,351        -18.9       510      +2.6
Orange               2,475        -29.3       616       0.0
San Diego            2,987        -24.1       482      -6.9
Ventura                855        -30.8       562      -8.2
Southern California 20,388        -26.2       487      +1.7