Happy Monday to Everyone! I shared these number with a few clients and they asked if they should be worried about the rise in inventory. ” Nahh, I told them.” When I first got my license in December of 2005 I think we had about 600 homes on market, or some crazy number like that. Increased inventory is just another sign that we are headed toward the more “normal” Market I have been talking about lately. No need to worry.
The Tri-Valley real estate market remains very healthy as we lag the frenzied Silicon Valley market. Our sales climate seems to follow suit with them. They are not seeing signs of a slowdown yet. When we start to see more of those high income earners running toward Livermore and Pleasanton, It might be a sign that the South Bay market is too high and that mentality will spread. I still feel we have another 1.5 to 2 years on the upside before we see a real turn in the market.
I’ve never professed to have a magic ball but I’ve been in the business long enough to see the initial stages of a market change from down to up and back again. We have now seen a slowdown in the upswing which will eventually level off and trend down over time. If you are long-term purchaser, these things are not such a big deal.
Here are this week’s Livermore market statistics:
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