Contrary to your apparent belief, last months MLS numbers do not represent a comprehensive review of long term property prices.oops! looks ok
https://www.biv.com/article/2015/8/metr ... july-rebg/
You will get a much better idea from this:
http://www.ritholtz.com/blog/2011/04/ca ... 11-update/
If that chart doesn't bother you, then there is little left for us to discuss, keep your eyes closed and keep jogging towards rather cliff. I wish you a happy landing.