Decent amount of inventory starting to accumulate past couple weeks in the Livermore market. Although there are still plenty of pendings, I am seeing a slight "cooling off" in pockets here and there in the Livermore market. I currently have 5 listings in Livermore. There is decent traffic at open houses but the percentage of serious aggressive buyers ready to jump immediately, write over asking and willing to be super competitive in the marketplace has leveled off from my observation and position in the market place. This is pretty typical for this time of year but also we are due for a cooling off in general after a nice 3 year run of aggressive price increases so its hard to tell if we're in a pocket or the start of a longer term cooling off period.
One thing for sure and that is there are more folks who need housing than housing is available weather it be rentals or purchases. The economy is back and rates are staying somewhat stable in light of the small incremental inconsistencies lately. Many folks have plenty of savings and no problem with 20% down payments. Others seem to be able to borrow from family or parents who have owned real estate and are able to leverage their investments to help out. We are seeing a lot of inheritances coming into play as well.
There is still a huge supply and demand issue across the board and this, IMO, will prevent any kind of significant crash or drop in the market place.
Biggest question is, will we see continued aggressive gains , moderate increases or a flat line cooling off for a while. Those are the 3 variable options in question on the horizon for the short term future of the Livermore real estate market.