Inventory is coming back online. Know how I know? Because I am reading headlines that tell me so. Okay, I'm kind of joking, but not really. Homebuyers and sellers are trying to figure out if now is the time to jump in or jump out.
Did you experience the recent real estate false peak? It "felt" like it loosened up a little during the second half of May. Did you feel it? Like there were more opportunities for buyers as more inventory came on the market.
Does it feel like a market of extremes? It does. It has. For over a year now. An extreme abrupt stop to business, shut down, fear, anxiety, release, cautious engagement, then full-on party.
With inventory dropping below 2,000, this storyline will not get reconciled so easily. The hope for more inventory this spring is still hanging on, but March typically defines the turning point when supply starts to satiate.