Disclaimer No expert ,
If another down turn were to occur in the economy then I think there will be more distressed homes on the market.
I think we would need to get within 10-15% of peak before you get current non distressed owners to voluntarily come off the bench in mass. The problem with that is the few distressed homes that do trickle onto the market keep the comps down so there would be a lot of difficultly getting someone qualified for a loan at that amount.
Builders same, I think they need to clear 15-20 percent or so after land/entitlements building costs etc… Before they will come off the bench as well.
