Down in San Mateo county (or up depending on where you are) the market for residential active properties on the market and pending properties counties to sink (albeit slowly).
In the past few weeks of 2010, both the active and pending listings have dropped (to 823 actives and 667 pending single family homes for the week ending 1/18/10). Just a few weeks ago in late November those numbers stood at 1013 (actives) and 835 (pendings). We can blame some of those digits on the holidays and bad weather.
With the probable rise of short sales we expect those numbers to rise again so buyers be ready.