Yes, VERY low inventory in our area and also in the parts of LA County that I follow. Supply has been dwindling, YOY, for the past couple of years.
I think it’s a combination of manipulation (#1), and sellers deciding to wait it out. Not seeing any reason for them to be optimistic about price increases, though. Even with interest rates at these unbelievably low levels, lots of houses are not selling that would have sold fairly quickly in recent years.
The combination of low sales along with these low rates makes me very bearish about prices going forward.
