San Diego foreclosure rates remain at a four year low according to an article in the San Diego Union-Tribune. This is a different matter than the properties that have already been foreclosed on but are yet to come on the market. As long as the “shadow inventory” of foreclosed properties remains in the background home values will not show much appreciation.

Pending home sales are near a two year high according to the National Association of Realtors’ latest Pending Home Sales Index. This is encouraging news but the statistic that really counts is closed sales. When the closed sales reports start showing consistent improvement over time then we will know the real estate market has turned the corner. Also, these statistics vary greatly by location so it’s important to know what’s going on in your neighborhood.