Dublin Market Update May 2010 – Which Way From Here?

The Dublin real estate market stepped back a little in May, as did the market in other Tri-Valley cities. Inventory and pending sales fell in May, reversing four month trends in both categories.  Are we seeing a turning point as the federal tax credit for home buyers ends and interest rates potentially head up? Or is this just a pause before the market heads into the heat of the summer selling season?

Inventory fell five units, or about 10%, from 55 single family homes at the end of April to 50 at the end of May. Pending sales also fell by five homes to 43 at the end of May. There is still just over one month of inventory in Dublin relative to pending sales, largely unchanged from April.

All Dublin Single Family Homes
Inventory Vs Pending Sales May 2010
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All in all, the Dublin market remains strong, and it will be interesting to see how it fares in the heat of the summer.