Here are the statistics that will give you an idea of how the market is doing in your area.

The stats are the percentages of the houses that are in escrow compared to the total number of houses in the market per area.

Here are the numbers for the week ending 9/27/08.
The following is considered the rule of thumb:

Buyers market if: Less than 25% of the houses in inventory are in Escrow

Sellers market if: 25% or more of the houses in inventory are in Escrow

Class 1= Single Family Homes Only as of 9/27/08:

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 Tags: Mortgage, Real Estate, Housing Market, San Jose, Santa Clara County