A thought. If investors/flippers were credited with making 30% of the purchases over the last couple years wouldn’t it make sense that current sales numbers are down 30% YOY?
I know there are still flippers out there, I’m watching a few deals implode. But for the most part, maybe this decline in YOY sales is just the froth coming off the top.
I too believe that many listings will come off the market in the next few months as many sellers are just testing the market and trying to get unreasonable top dollar. I’ve made several informal calls to listing agents regarding high priced listings that have been stagnant, there is a lot of frustration out there. Lot of vacant houses though too.
