By now you have probably heard the news that existing home sales sank 27.2% nationally in July, attributed in large part to the end of the homebuyer tax credit.

While the U.S. forecast isn't great, California and the Bay Area are doing better than the national averages, especially at APR where we are up over 2008, which was generally considered a stronger year for real estate. Currently, we have year-to-date closed dollars 5.5% above 2008, and are 28% above 2009.

So remember that all real estate is local, and the national forecast doesn't necessarily indicate what is going on where we live.