Here is the latest Trendgraphix of October 2011 that shows the number of single family residence that are active for sale vs. the pending sale throughout Orange County.
As you can see that the number of houses that are on the market has significantly decreasing by 35% compared to Oct 2010, while the number of houses that are on the escrow (or pending sale) are increasing throughout the year.
To sum it up: we are LOW in INVENTORY and INCREASING in PENDING SALE. Basic supply and demand rule, low supply with high demand equals to increase in price.
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