Juice I am sincerely hoping your logic turns to reality. My fear is that interest rates will be lower but it is hard to say. Right now the 10 year treasury yield is a tad higher then it was a year ago but it is trending down. Last year the rate hikes were trending in the opposite direction.
I ABSOLUTELY agree with you that we did see extraordinary inventory last year, and we saw a 30% DROP in sales each month over the past. So where did all the listings go? Like you said, they came on the market and simply didn’t sell. Sellers pulled thier homes. So the litmus test is, will those sellers return en masse…If they do, will they price to REALLY SELL or will they simply ride it out again and give up? Finally will lenders let people refinance who are in financial distress…(see other posts)
