I wouldnt be shocked if prices held or crept up a bit this year due to constrained inventory.
Isn’t inventory triple what it was a few years ago? Around 15000 properties as opposed to 5000? Maybe I don’t have my numbers right, but if my memory is correct that doesn’t sound very constrained, especially since our (legal) population is decreasing.
This bubble won’t deflate until the weak hands are flushed from the market, and that won’t happen until traditional lending standards (loan types/DTI ratios, etc…) return. Prices have been artificially inflated due to a flood of buyers that, in normal times, would be denied entry to the market.
