December 13, 2006
Southern California's housing market continued to lose its vitality last month as home prices rose at their most sluggish pace in nearly a decade and sales remained lackluster, data released today showed. "Obviously, there's a correction going on, but it's not going to collapse," said Delores Conway, director of the Casden Real Estate Economics Forecast at USC. "Even with prices flattening, it doesn't mean that we're in a serious housing downturn."