Many conversations about where the market will go after the First-Time Home Buyers Tax Credit wears off is escalating, and although the National trend is pointing towards decline in prices and transactions I believe the Southern California Real Estate Market is in a unique situation that will save it from decline.

In West Covina, CA as of 11:02am on 10/27/2009 there are 115 Single-Family Residences available for sale (*Figure pulled from MRMLS and CAROTS data). The average rate that homes have been entering into contracts in West Covina has steadily been 55-60 homes a month. This past month 57 properties entered into escrow. This leaves the West Covina Real Estate Market with just over 2 months inventory on hand. Anything under 4.5 months inventory on hand is considered to be a shortage in inventory. A balanced market would have 5-7 months of housing inventory on hand. With this said we'd have to have almost double our inventory on hand to tip the scale back into the favor of a buyer's market.

This is a lot of homes, and it may make one wonder: Is the projected slow down is enough to drastically shift the West Covina Real Estate markets?

Don't just hire anyone... Hire a Pro. Licensed REALTOR(s)® California: to list your property for sale or to purchase a property in Alhambra, Anaheim, Arcadia, Azusa, Baldwin Park, Brea, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Duarte, Glendora, Hacienda Heights, La Habra, La Verne, Monrovia, Montclair, Monterey Park, Ontario, Pasadena, Placentia, Pomona, Rosemead, Rowland Heights, San Dimas, South Pasadena, Upland, Walnut, West Covina, Whittier.

Don't see your city? Ask us about our National Referral Network.