As always I am continously reading about the market and keeping up with stats. The most important thing to me is not what is being blastered on the front page of the newspapers or said on the news. I want hard facts, in which I always wanting to update everyone around because the real estate market has a 50 year history of building the wealth of homeowners. So good news from CAR market report, California in January, 2008 had a 16.9 month supply of homes and now as we speak we have a 6.7 month supply. Which means in January it would take 16.9 months to sale all homes currently available and now only 6.7 months. This is more than 50% less time. People I run into everyday are stating they are going to rent and wait. I would feel bad for anyone that misses the train of The American Dream. CAR also expects sales of existing single family homes to increase 12.5% in 2009.
In Temecula and Murrieta, we have seen a 38% increase in our home sales comparing January 2008 and September 2008. This is good news and makes me feel good about my continued confidence in the American Dream.
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