With all the media reports from the so called Experts we all have been hearing about recently on how bad the real estate market is and how it will continue to decline all I can offer is the market report for my primary area of Temecula, Murrieta and Menifee California.
In January 2008 we had 49 properties go into pending status (accepted offers) and that was an OUCH month.
In Febuary 2008 there were 338 properties that went into escrow.
From March 1st 251 properties have gone into escrow and many of these properties had more than 1 offer so those buyers are still looking for another property which in turn will bring more sales this month.
These numbers are not going to bring us out of the current real estate slump but the numbers presented here do show the market, at least in my area, is picking up contrary to the media reports of gloom and doom. Is it a good time to purchase real estate? Obviously the 638 people that purchased in this valley think so.
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