When a home is located near something "different" such as railroad tracks, near a freeway, next to a school or shopping center, there can be some potential impact on the home's market value. However, this home's list price may have already taken that into consideration. If you like the home, then make an offer.
In an average year, yes, inventory would increase in the summer months before dropping off again in the late fall. However, this has not been an average year so far. Many communities, in many price points, are continuing to see low inventories. In the 680 corridor of the east bay, we have seen a few more homes come on the market each week for the last 2-3 weeks. Is this a new trend? Will it continue? Will all those buyers who have given up the last few months return, and therefore, negate the increasing inventory? These are all good questions. Answers will be available at the end of the summer!
You might want to think about how long you will be living in this home. Is it strictly an investment or is it a long term home where you will generate memories for friends and family?
All my best in your search for a home!