So Cal housing market? Good time to buy?

So the wife and I have been talking about buying a house. We are looking to be in the riverside area (mostly because it's cheaper and you get more land for your $$). I was wondering what peoples take on the housing market in so cal is. If this is a good time to buy, or should we wait a few months to a year to buy?

I'm in the process of buying a house myself in California. About an hour away from riverside closer to the coast. Enjoy the surf to much to move away from it hehe.
Ive been monitoring the market for a few years now and right now it does seem like the best time to buy. Im actually looking at a house on Thursday that i think I'm going to make the buy.