People are buying again!

Ask any active real estate agent these days and they'll tell you buyer activity really spiked in July and August.

No question about it but the end of the summer has seen much more real estate activity here in Los Angeles than at any time this year. Phones are ringing. People are turning out at open houses. Offers are being written. And people are putting property in escrow.

It's pretty clear from talking to clients and other agents that people have been seeing the prices come down to the point they are starting to say: "I want that house at that price! That's better than where I live now! I want to buy!"

My personal experience bears this out. I am currently working with several buyers. While recently setting up showings on seven properties downtown, I found two already in escrow and two more with offers on them. This past week, while showing property in West L.A., out of four properties, two had offers. This coming weekend, I'm heading out to see duplexes and triplexes with another client, and again, when I called to set up showings on 10 properties, two were in escrow and three had offers.

And my own listings are suddenly getting many more calls than before!

I don't know how long this will last, but right now, people clearly are buying again.