Orange County Housing Market Update!

The LA Times reported the latest housing numbers here in Orange County again and the year over year change in Orange County's median housing price was 0%. However, I'm not quite sure that tells the whole story. Things in Southern California look like they might get a little hairy as two counties out here (Ventura and San Diego) both posted significant declines (-8.2% and -6.9%, respectively. And here is what the monthly Orange County median price looks like as tracked by me:

November : $616,000
October : $625,000
September : $626,000
August: $633,000
July : $639,000
June: $646,000

Now I understand that a drop in prices is normal from summertime because that is a high demand season, so I'm willing to keep an open mind that these prices will recover by summer, but for now, I really think that prices won't recover. We shall see!