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Temecula Home buying - 2009 Compared to 2010
Temecula Home Buying, Southwest Riverside County, California.
Temecula, is one of the most popular Cities for home buying, in Southwest Riverside County, California.  Home prices are heading upward from the downturn.  We are in our slower season now, but there are still multiple offers on almost every home under $300,000.  Our median home price is approximately $280,000 which is up 15% from last year.
The reason it is important to track these statistics every month, is to see if prices are heading back down. I haven't seen any sign that prices are heading back down even slightly right now.   However, I track these numbers every month! 
Many consumers believe that the, "Shadow Inventory", of foreclosed homes will bring prices back down.  The "shadow inventory", may never come.....the other theory is that the foreclosed homes will just keep trickling in like they have been, leaving the "shadow inventory", a topic that escapes reality!
Looking at the table below there are fewer overall sales in 2010, however, the number of sold properties over $200,000 has actually increased!Prices have gone up steadily since 2008, and next spring here in Southwest Riverside County, prices will go up again!Call me about specific Neighborhoods, that you are interested in finding out ... more

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