Southern California real estate prices rising, but also slowing

Southern California real estate prices continue to climb, but at a much slower pace than in previous months. According to a DataQuick study cited in the LATimes, "Prices in each of the Southland's six largest counties posted records, pushing the median price regionwide for all houses and condos to a record $465,000." Orange County hit a staggering $600,000 for the median price. San Diego County continues its cooling trend, but still hit $493,000 for the median price. Los Angeles County hit $475,000, and Ventura County topped $584,000. What this means for the real estate bubble is anyone's guess. Some economists think the data points to a 'softlanding'. Additionally, as long as job growth remains at current levels, many economists argue, housing prices should remain relatively stable.(Full LATimes story)