The price of homes in San Diego County was just over three hundred twenty-two dollars, which is 13% higher than prices of February a year ago, although the total figure for sales of residences fell by 0.3% to just over two thousand four hundred fifty units sold. In Riverside County, the price of homes increased to one hundred ninety-seven thousand dollars, which is 3.7% higher than in February of 2009. Residence sales there were down by 6.5% to just under three thousand two hundred units sold.
We are seeing a shortage of houses and condos for sale which is resulting in multiple offers within a few days of a new listing if the home is priced correctly. We are even seeing short sales with multiple offers. The shortage of inventory is impacting the prices.
It is a great time to buy real estate, home prices have just started moving up from the bottom, interest rates are historically low and you need to be in escrow by April 30th, 2010 if you qualify for the tax credit.
