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!