Richard Green, the director of the Lusk Center for Real Estate at the University of Southern California, said the foreclosure storm was beginning to subside, and fewer foreclosed homes were flooding the market. That has meant homes are selling faster at higher prices — which means fewer homeowners under water.
"The most important thing is, if you look at job growth in California for the last 18 months or so, it's been higher than average for the country," he said.
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