Looking at a single month can be very decieiving. Look at the sales patterns over the last year or two to get anything meaningful. Sales are alos hamstrung by lenders. I have 6 lisitngs that should have closed already if not for lender incompetence on short sale processing. Inventory of sellable homes is still relatively low.
On the other side in markets where there is inventory, homes fly off the shelves. I spent most of the last 2 months shopping for a home in Clairemont with a buyer client. There are lots of organic sales as it is older and there has been a fair amount of turnover among older residents with lots of equity. Anything decent priced within reason of current comps sells in a few weeks if not days.
Also at current interest rates rent vs buy fundamentals are no longer far off in mid to upper mid priced homes.
