Here is the true picture of the market in Corona. Our worst month was August of 2007 when we had 4121 homes on the market, 126 in escrow and 153 sold that month. That means we had over a 2 year stock of homes on the market. We have seen a steady decrease in inventory since then. Last month (March 2008) we had 3038 homes on the market, 366 in escrow and 167 closed sales. That menas we have only about an 8 month stock of inventory. As of right now today, there are fewer than 1860 homes on the market and 447 in escrow. As a REALTOR(R) working this area, I can tell you demand is high. It is not unusual to have the best priced homes get multiple offers in the first few days on the market. Particularly the "entry level" homes that are perfect for first time home buyers.
Ask your REALTOR(R) to help you find the right neighborhood for you, and best of luck to you.