Jazz
There are always people thinking about it. Thinking about buying, thinking about selling, thinking about a vacation home, thinking about a vacation, a new car, a haircut or whatever. Those folks are always out there in good or bad. Simply because they are thinking about doesnt mean they will ever sell it or sell it for the reason they are thinking now. People inherit money, get bonuses, promotions, parents need places to live, values start going up and they decide to hold on. The investopedia definition is far too broad and impossible to quantify.
Brian
Regarding long time owners not selling? I agree with you. Its simply not true. Have an offer on a great ocean view home right now for a buyer. The 30 yr owner/seller’s husband passed and she is moving onto to an independent living facility nearby. Lots of other long time owners with equity recognize thats its a great to move up. The gap between higher end homes and middle of the road homes has greatly narrowed. Throw in low interest rates and its a fabulous time to move up for those who can.
Its never as simple as folks try to make it.Most people interpret the market based upon their individual circumstances rather than having a broad view of what is actually happening out in the streets.
