We're in preparation to move to SoCal so we've been watching prices for the last year. The trend has definitely been downward for housing in our price range.
It's flat where I live (south Orange county, California) for homes in the $500k-$1M mark. Newer development has stickier prices than older homes. However, there's a lot of local business development happening and, in the case of a single organization that I am aware of, many high-paying jobs are moving into the immediate area in the next 18-24 months. That single organization is stated to be investing over a billion in this new facility alone. It'll be very interesting to see what this does to the local market.
