The number of homes sold in California has picked up the pace recently.  A few months back, I said keep an eye out for the sales volume in California.  When it starts picking up that will be a good sign.  Since California was one of the hardest hit by the “housing bubble” they would probably be one of the first to recover. I was told from my Realtor affiliates in San Diego that sales had picked up there a few months ago as well.

Sales improved significantly in July 2008 and remained above the 400,000 level for the third consecutive month. Year-to-year increases in the number of transactions ranged from a 6.7 percent increase in the San Francisco Bay Area to a 176.5 percent increase in the Riverside/San Bernardino region. In general, greater percentage gains occurred in lower-priced areas that had been most adversely affected by the market downturn since late 2005 and that are concurrently experiencing the biggest declines in prices.