Increased Inventory and price declines in Bay Area?

[Armand P.]

Hello BP,

To all bay area RE agents in the past few weeks I've noticed an increased home values in Hayward CA. Could it be that new housing developments are making it a desirable place to live now? You couldn't find anything under $500K a few months ago now a decent home is listed for $550K or more. On the other hand, I am seeing increase in inventory in Livermore, Mountain house and Discovery bay with a much lower listing price than prior.

I believe we will continue to see more inventory and price declines in place like San Jose, Morgan Hill, Fremont Newark at least thru the summer going into fall

Would like to get your thoughts

Thanks

[Brian Garlington]

We will see more inventory eventually but don't expect price declines like 2006-2009