The inventory flow is astonishing. There is nothing coming on the market.
Everyone knows what happens just before a Tsunami hits?
That’s right – the tide runs out.
I can’t say I believe the tsunami of inventory is coming soon, but it sure is remarkable that 1) Folks have been waiting for a tsunami for a long time now, and 2) All of the sudden, the tide went out.
If a tsunami does come, it will be a fascinating analogy between they physical world and economics.
I’m seeing a lot more listings in my hood.
But the ones that aren’t grossly overpriced go pending very quickly.
Seriously – after no action in my hood for a very long time, except some houses that had issues (on busy streets) that were priced as if they didn’t have those issues… stuff is coming on the market and selling quickly. I think the activity is driving more activity.
In the last 60 days several homes in a few blocks of my house were listed and went pending. All listed for prices higher than I thought they were worth.
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