By Leslie | January 20, 2009
Here are the pending sales for December. Pending sales are homes that have gone into escrow and are a leading indicator of market activity. Oxnard is still the sales leader with sales over 3 times the volumn of last year. The majority of those sales are distressed sales – foreclosures and short sales.
By Leslie | December 9, 2008
The stats for November 2008 pending sales for Oxnard are still screaming compared to this month in 2007. Ventura pendings are still higher than the peak summer months of 2007 while Camarillo is comparable to this time last year.
By Don | November 7, 2008
The stats are in for single family homes and condos that have gone into escrow for October. In past months we’ve repeatedly said that Oxnard is white hot and the October pendings continue to show very strong sales activity.
By Leslie | October 6, 2008
Homes that are considered “pending” means homes that are in escrow and under contract. For Camarillo, in comparing the first 3 quarters of 2008 as compared to 2007, there is somewhat a tie without major differences. In Oxnard, all three quarters are still screaming up compared to 2007. For Ventura, the first 2 quarters were slightly stronger than 2007 but the third quarter screamed up over 2007! See the hard numbers here.
By Leslie | September 19, 2008
September has been super busy, what with the drop in interest rates, lots of REO properties coming on the market – buyers seem to be coming out of the woodwork. Here are the numbers for the August pending sales.
“Pendings” are homes that have just gone into escrow. A buyer and seller have agreed to terms, and the buyer has put hard cash (the security deposit) into escrow. We track pendings as a leading indicator of real estate activity.
August shows TWICE the number of pendings for Ventura compared to 2007. Oxnard had 4 TIMES the number of pendings compared to last year, and even Camarillo had more pendings than last year.
By Leslie | August 6, 2008
The pending stats are in for July are in for July and the number of homes in escrow is still red hot!! – Oxnard is almost 4 times more than this time in 2007, Ventura is almost 50% more and Camarillo is also very strong!
By Leslie | July 7, 2008
The stats are in for June pending sales and the number of homes in escrow in Oxnard is still red hot!! Compare the 2nd quarter of 198 homes for 2007 compared to 547 homes in 2008! Ventura has picked up the pace while Camarillo remains similar to 2007.
By Leslie | June 10, 2008
The May pending numbers are in for Camarillo, Ventura and Oxnard. Camarillo continues on about the same as in May 2007 but Oxnard continues to be white hot in homes that are in escrow! Ventura is seeing a fair spike in activity.
The National Association of Realtors came out with this statement today:
“PENDING HOME SALES UP 6.3 PERCENT IN APRIL
The number of pending sales contracts for existing homes rose 6.3 percent in April, according to the latest Pending Homes Sales Index from NAR. The Index rose to 88.2 in April, up from 83 in March.
’Pending sales contracts have picked up notably in areas undergoing significant price drops,” said Lawrence Yun, NAR chief economist “Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines, but it’s unclear if they are investors or owner-occupants.’”
By Leslie | May 5, 2008
Just pulled the April pending sales (properties that have gone into escrow – a leading indicator of home sales) and are seeing exceptionally strong activity in Oxnard, very strong activity in Ventura, but Camarillo’s April showing is still about the same as last year. Camarillo, for some reason, is a laggard compared to Oxnard and Ventura.
Real estate is a local thing – unfortunately, the general media has been beating into us that home sales are down or flat, and many believe it, but these are the REAL numbers for Ventura, Oxnard and Camarillo!
By Don | April 8, 2008
A leading indicator of real estate activity is pending sales – homes that have just gone into escrow. Buyers have put down hard cash as their security deposit for their offer and their offer has been accepted by the sellers.
We just compiled the March pending sales, comparing first quarter 2008 to first quarter 2007. Some big surprises! Oxnard is screaming up in home sales, Ventura is about even, but Camarillo for some reason is still “in irons”. You sailors out there know what that expression means!
The media may have you believe real estate is “in irons”, but these statistics for Ventura, Oxnard and Camarillo tell a different story!