Is California's housing market near the bottom?

BusinessWeek

looks at 10 markets in California where housing demand has picked up of late, boosting prices off the lows we've seen in the past few months.

One of the reasons demand has picked back up is California's $10,000 tax credit for buyers, on top of the $8,000 federal first time buyer credit.

Peter Toner, a Realtor at Prudential California Realty in San Diego, says luxury homes are lingering on the market, but properties listed for less than $400,000 are selling quickly.