Maybe a turn in the Market

[Rick Pozos]

I have seen a couple of cycles here in San Antonio, but did not really know what was happening until it happened. Now I realize the nature of cycles and can see things a little better now. With rates so low for so long, unemployment rate so low for so long and gas prices so low for so long do you think we are finally at the top of the market?

https://www.dallasnews.com/business/real-estate/20...

https://therivardreport.com/usaa-bank-lays-off-265...

We know rates are moving up. Also, we know that there is a low supply of houses for sale. What I learned from the Dallas News article is that the demand has slowed. Maybe because of higher prices? Maybe people can afford less with higher rates?

I have noticed that the foreclosures have dipped to the lowest level in quite some time, at least in the Texas major cities of San Antonio, Austin, Dallas/Fort Worth and Houston. This seems like another reason that things are at the top. 

What do you think is going to happen in the next 6 months to a year?