Should we even discuss a 1% change? I think not.
Supply is up 55%! That's nothing to sneeze at. Much of that could be due to the new construction condos and townhomes available for sale in Dublin. Demand may be down in the investor segment since new construction carries a much higher price tag.
We build up, we come down. In average days on market for instance. But this graph follows a fairly tipcal market curve. Brisk sales in the spring/summer months, with longer on market time during fall and winter. Hey folks, this is looking quite 'normal'!!
Month's supply of inventory is below what would be considered normal levels (4-5 months supply when viewed from a national point of view). But what about California has ever been normal? We are like much of the state...still trying to build up housing units after several years of no new construction. The Bay Area is still an anamolie compared to much of the country. Weather, variety, things to do, jobs? You just can't beat the Bay Area.
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