What? A Sellers Market in Orange County?

“Orange County is one of the fastest-moving markets in Southern California, with a hot seller’s market in homes priced at or under $899K, and only 11 months of Inventory on hand in homes priced above $900K….Not since December 2008 have listings been absorbed faster than they enter the market. The number of listings on the market was down to 3,290 in August 2009 from 3,453 in July. Listings sold were up to 3,568 units in August from 3,126 sold in July.”

Read the full report…”Heated First-Time Buyer Market Changes Strategies for Buyers and Sellers”

Many have speculated that this drive in sales at this price point is a result of the Buyers Tax Credit, which seems to have a good possibility of being extended.

What do you think? Has there been a shift in the market?