Over the past two months, inventory has gone up by more than 3%, which itself is not so bad except that it usually drops this time of the year. Even worse, pending sales have dropped by nearly 30%. An extreme dropoff. Prices are already dropping, but price is actually a trailing indicator, supply and demand imbalance are the indicators of future price trends. It really looks bad for the rest of this year, the only wildcard would be some sudden govt. intervention.
robertoaribas on Continuing plunge in rental… John Wake on Continuing plunge in rental… robertoaribas on Continuing plunge in rental… John Wake on Continuing plunge in rental… John Wake on continued observation on Phoen…