Looking at Rich’s charts, last time months of inventory was under 2 for a while was 2013, prices flew almost straight up, +21% in Dec 2013 over Dec 2012.
Such a sudden increase in prices did bring out some (poorly timed!) sellers.
Now we have even lower rates, even lower inventory, only thing holding us back are the huge downpayments needed and conforming loan limits not rising as fast as prices.
