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Inventory shortage continues in the East Bay
The inventory shortaqe continues in the East Bay. We expect this to correct as homeowners breach their underwater mark and decide to make a move during the spring market. Headlines today are showing substantial moves in the market with San Franciso prices up 12% year over year. Dublin, Pleasant Hill, Walnut Creek & San Ramon are all seeing similar price movement. Given the current buyer demand and shortage of inventory we should see these figures replicated again in 2013. It gets back to the basic supply and demand equation. Few homes, lots of buyers = upward pricing pressure.