We have now seen three months in a row where sales have dropped more than expected. At least some home buyers have adopted a wait-and-see attitude.

I think the Riverside/San Bernardino housing market will continue to be stronger than for the state as a whole, and the coastal regions in particular, in 2006.

For 2006, we're saying California's median home price will go up by 10 percent, compared with a projected increase of 16 percent for 2005.

For the better part of 2005, it was in the 3- to 3.5-month range. We saw a rather dramatic increase at the state level beginning in January of this year and continuing in February.

It certainly is a concern when we reach a record low for affordability.