Experts "Don't Want to Be Alarmist" About "Breather" in LA's "Nuanced" Housing Market; Which "May Peak in A Year"

``A recent report issued by the California Association of Realtors painted a somewhat dour picture. Home sales in L.A. fell 17.7 percent in July from the month prior and are down 13.3 percent from the same period last year. And while the median price of a home in L.A. remains sturdy at $514,000 -- which is a 4.8 percent increase over last year -- California as a whole saw median home prices slip 1.8 percent from June to July. For the first time in 18 months, the number of year-to-date sales in California is down from the previous year by 0.3 percent.''