Current supply is down

[Brian Ellis]

We all know that interest rates are up, and will continue to go up until inflation is controlled.

But at what point will we start seeing more supply? I dont know much about any other market other than my own, but we are NOT seeing supply rise. In fact, we have less supply than this time last year.  And the average days on market is 34, same as last year.

This is still very much a sellers market. I figured we would see some real shockwaves by now given the interest rates. 

[Jacob St. Martin]

I don't think we will start to see a increase in supply until there is a big push for building, probably through legislation. I live in Charlottesville VA and there is still a housing crisis here and the city is talking about rezoning to allow for more high density multifamily. I think it is things like that that need to happen.