Alameda/Contra Costa: inventory up 700%

As of the end of business day yesterday, the number of properties currently on the market for sale in Alameda and Contra Costa counties has just broken the 14,000-unit mark. That's more than 700% increase from just under 2,000 units in the beginning of 2005. Unless something drastic (i.e. miracle or 0% interest) happens, there's simply not enough demand to absorb all that inventory.