According to an article based on the Case Shiller index the property values in Los Angeles are slightly higher as of April. The index shows that prices have adjusted to their 2003 levels and appear to be trending higher.
After several months of declining values, preceded by rising prices, the prices show a modest gain. Los Angeles is in Red. Other nearby cities also shown.
In another article (click on the link to read the entire article) the study shows that nine cities faced a decline while the rest of the 20 cities studied increased.