This is great news- Real Estate sales jumped by 22 percent in North County, San Diego during the month of July, compared with one year ago, the first real jump since the market began to decline in 2006.

It seems the activity is mostly in the bank owned homes which are priced aggressively, and are attracting dozens of offers.  It really couldn't be a better time for you first time home buyers to enter the Real Estate market, I hope all of you out there who are considering it will jump off the fence and take advantage of these great deals before the bottom has come and gone. Don't be one of those who says "we should have bought in 2008" The median price in July according to the HomeDex report dropped 7% to $457,500, this is of course affected by the low priced foreclosures on the market which keep pushing the overall prices down.

Inventory rates also fell as sales rose, according to July's sales it would take 7 months to sell the existing inventory in North County, if no new homes were added. In June the figure was 8 months. Analysts consider 6 months of inventory to be a healthy market.

We are remaining optimistic, that perhaps we are close to the bottom after all.