Every October, the California Association of Realtors (C.A.R.) publishes their annual real estate forecast. It is really a wealth of information, containing all sorts of general economic data as well as every conceivable data point related to real estate. In addition to state-level detail, they also have regional and county-level data that is particularly helpful. They really should charge for this kind of thing!
The 134-page PDF presentation can be viewed/downloaded here: Download car_2009_real_estate_forecast.pdf
If you want to watch a 52-minute streaming video of the actual live presentation, you can view it on the C.A.R. website homepage, at www.car.org.
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