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.