California was one of the four hardest-hit-states by foreclosures;
and we are past the bottom. Affordable homes are getting multiple offers and the Inventory is really, really low.
Still a buyer's market... BUT prices are so attractive and mortgage rates so low that we are very busy in the Berkshires and have seen more bidding wars in the last 6 months than in the past 5 years.
Associate Broker, Berkshire Property Agents
Hope that helps!
Now, even at that prices are certainly still low. It is my personal opinion that this is the reason inventory is still so low. Sellers, unless they need to, seem to be a bit unwilling to to list their home at today's prices. Again, just a personal opinion :-).
30 years real estate experience
Real Estate Degree
Interior Design Degree
Certified Historical Specialist