Ive been so busy its been a while since ive posted a Livermore market update so here it is:
Inventory is up to 160 properties currently showing active. This is a 3 year high. the average amount of properties on the market for the past few years has been 50 to 120/130. Now historically we could attribute this to summer time slow down as june/july/august always take a "breath" on sales. Also we may take into consideration the market has exceeded 35% in the past 3-4 years and at some point not a matter of if but when a cooling off is in store.
My personal opinion and its only my opinion, is many sellers have been "timing the market" for years waiting to make moves. I believe the ideal time to have sold was the begging of this year. I feel a "cooling off" in store. I do not however anticipate a crash or significant drop in prices as long as rates stay stable which so far they have.
The saying "location location location" will much play a factor as areas like the Tri Valley will always trump the bedroom communities and folks always want to move back or stay as things like good schools, commutes, families and kids staying close by and nice family orientated Cities like Livermore/ Ptown, SR and Danville will usually stay afloat when other areas see price decreases.
My prediction for the next year or so is a "smooth and balanced" ride with modest equity increases while wages and economic growth continues doing well.