The LA Times is reporting that the LA market for real estate has slowed.
As a real estate broker in SoCal, the market is very busy. The issue is, people are having a harder time getting mortgages approved for one thing.
Some people are turned off by prices on homes that have unrealistic asking prices.
Rentals have gone way up and these people in a year or 2 will turn into buyers. As the jobs in the Silicon Beach keep getting stronger and stronger, the buyers will come.
This may have just been a very tiny release of the accelerator, not a full fledged braking.