What’s in store for 2012? I think we can assume that 80% or more of the listings are going to come on the market priced at least 10% to 20% too high over the next 4-6 months.
The banks aren’t pushing defaulters, and the elective sellers aren’t going to give it away.
But sellers have been like that for a while now – heck, it’s another example of how market conditions are fairly normal, or at least they aren’t radically out of kilter. Mortgages are available at the most attractive rates ever, buyers are using healthy down payments, and the inventory is tight.
There is no problem with the demand – it’s just the price: