The Western region of the United States, especially California in particular, is notorious for its pricey housing market.

Homes throughout the state are known for being significantly more expensive than similar homes in other states throughout the country.

It is also known for being an area that goes through very intense periods in terms of their housing market. As we have seen, most areas of the states appreciated tremendously during the housing boom from about 2000-2005, and are now experiencing significant slowing now that the heydays of the housing market have come to an end.

But although most parts of the Western real estate market have cooled significantly, there are some hot spots that are still thriving.

A recent article on Bankrate.com by Dana Dratch, “West is looking cool, except for hottest markets,” discusses some current real estate trends we are seeing throughout the Western United States and in California especially.

“While the West is experiencing the same buyer's market as the rest of the country, it enjoys some special factors that set it apart. First, with a median home price of $355,100 at the end of 2006, home costs are higher than in any other region of the country, according to the National Association of Realtors (NAR).And homeowners spend a larger chunk of their income on housing: 35 percent on average, according to NAR statistics.”

As everyone has already heard already, one of the biggest issues with the state of the housing market in a very general sense, are the excessive amounts of unsold home inventory that are sitting stagnant on the market right now. California is no different, in terms of excessive inventory, but most economists and industry insiders are sure that everything will work out, especially since many buyers are realizing the opportunity window right now and are finally stepping off of the sidelines.

“At the same time, inventory in the state ‘by recent standards is high, but not excessive,’ says Yun. California's inventory is ‘close to the national average’ of 7.2 months (the amount of time it would take to sell the current supply at the current sales rate), says Lawrence Yun, a senior economist for the NAR. But because the housing market there has been so tight, it's not something to worry about, he says.”

But as with any other real estate market as a whole, there are some areas that are doing much better than others, even though they are not very far away from one another.

“When it comes to home values, each city has its own story. In Long Beach, Calif., ‘I have found more properties on the market and properties staying on the market longer,’ says Dick Gaylord, a president-elect of the NAR and a Realtor with RE/MAX Real Estate Specialists in Long Beach. ‘But I have not seen a decline in prices.’”

“Instead of selling in days or weeks, as they did in during the boom, homes are staying on the market two or three months, Gaylord says. ‘It's not abnormal. We're getting back to a normal market.’”