Here is the latest look at Riverside California residential real estate. These tables show real estate sales for single family homes in Riverside in January 2009. In spite of all the "doom and gloom" that we are constantly bombarded with by the media, houses are selling in Riverside and throughout the Inland Empire and banks are lending. I have to add here that banks are lending; but they are much more restrictive than in recent years (before the housing bubble burst), and they are requiring more documentation.  

The number of active listings and pending listings is as February 6, 2009.  Pending listings are homes that are currently in escrow. The average list price of sold homes means the average price of the homes at the time they went into escrow.  It is a buyers market but if you look at the average list price vs. the average selling price, for the most part there isn't much difference in the two.  That shows that houses are selling for very close to their list price.  

Some people are probably wondering if this is a good time to buy.  I can answer that question with a definite "yes" but only if you can afford it. Prices of homes in Riverside CA are lower than they have been for  years and interest rates are still low.  But they have been rising in the last couple of weeks.  Check today's interest rates here.  No one knows how long the interest rates will be low - don't wait too long to buy your new home and miss out on these low rates.

Let me know if you are interested in receiving listings for Riverside CA homes for sale or if you are thinking of selling your Riverside CA home. Visit my website, Riverside and Corona Real Estate.

Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715, Phone: 951-840-5212 
Copyright © 2009 by Vicki Pedersen, All Rights Reserved.*Houses for Sale in Riverside CA - Market Report January 2009*