CA leading nation in inventory declines, price rises

Good story from Inman News on the drop in inventories that is happening nation-wide, http://www.inman.com/news/2012/09/18/shrinking-inventory-bolstering-many-housing-markets.  The local data confirms that the Bay Area, and California in general, is leading these inventory declines and price rises.  There has been a slight drop in median prices in August, but there is no sign today that this drop is the beginning of a trend.