Continued Slowing In Southern California Real Estate Markets

Los Angeles ABC7.com reported that the southern California real estate markets are still slowing down. Here are some key highlights:

San Diego County Real Estate
- Home prices declined 2.2 percent

- 32 percent decline in sales compared to a year ago.

Los Angeles County Real Estate

- home prices rose in August at the lowest annual rate in six years (4%)

- 21 percent drop in total homes sold

According to the article, a San Diego professor thinks it may bottom out by 2007 and start to recover by 2008. What do you think?