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State O' The Market

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Are we in a new housing bubble? According to the latest DataQuick numbers, Southern California's median house price is up 23.5 percent, but those who look to the Case-Shiller index for answers say relax: prices have "trended up steadily in Los Angeles County since the beginning of last year, the region isn't seeing a price spike on the order of what's happening in, for example, Phoenix, where prices have surged by double-digits." The latest Case-Shiller data looked at house prices through November, while DataQuick's data was for January. [SCPR]