2023 Market activity = almost equal to 2022 market equity

[Carlos Ptriawan]

https://www.redfin.com/news/ho... 

Looking at various chart above, my impression is this 2023 market is still too strong , market is following 2022 price/inventory pattern except with even lower inventory than 2022 and pushing the price of May 2023 to be equal to May 2022. 

I guess SEC action to 'mini crash' the real estate failed miserably LOL It's just so strange that market is too strong that almost nobody willing to sell. 

Almost everyone that's predicting a crash in November 2022 is wrong, @James Hamling

[Bill B.]

The problem is you can’t use average selling price. People are much less likely to sell a $600k house with a Locked in 3% mortgage than a $150k condo with one.  So now you have a bunch of low end sales moving the “average”. 

People who have to move because of financial reasons (though I don’t see much of that in Vegas) ar usually singles in smaller cheaper housing. People selling to move in with new spouses or significant others are usually selling smaller properties. Young people willing to move to new markets for job opportunities or leaving home or school same story. Honestly I can’t believe anyone is selling who doesn’t have to. Unless they are downsizing as they get older or came in to a windfall. 

We’re back to anything reasonable being under contract in a week and waiting lists for new homes. Especially single story homes.