Many market watchers see stable prices, but no growth. Homes sell quickly, but there aren't many to choose from. And buyers are still struggling with high prices and an uptick in interest rates.
"We've basically run out of houses that people can afford," said Richard Green, director of USC's Lusk Center for Real Estate. "Three or four years ago, if you were a family making $60,000 there was plenty of stuff you could buy in Southern California. That's gone."