In case you didn't read the Los Angeles Times today, here's an article talking about how home sales and home prices have significantly increased in Los Angeles the past year. Some quotes from the article:
The median home price for the region was $321,000, up from $315,000 the two prior months and a nearly 17% increase over $275,000 in November 2011.
and
All-cash purchases, many by deep-pocketed investors, also remain unusually high.