Looking back at 2020 we can see that this slight uptick in inventory is likely a result from entering into the winter months and experiencing a seasonal softening.

In addition, strained affordability as home prices continued to rise likely contributed to the softening of demand.Most of Philadelphia is in slow or steady demand.

Also, rent out on a two or three year term (with option to cancel), and with good tenant selection, you'll minimize tenant damage.And next time around (if the marker softens a bit) consider seller financing on your next house.Good start!

If you estimate a big wrong the market softens 10% and you get a 10% lower appraisal now you are losing money.

Fix n flips are a little harder to judge I think with the softening market.i

@Michael Bryant it depends on the part of the economic cycle we are in.Prior to the housing crash in 2008-2010, national lenders were popping up everywhere and were aggressive with their lending programs, offering products and rates local banks couldn't/wouldn't.These players disappeared after the crash, so small local banks became the only option.Since about 2014 or so, they've started popping up again.With the ongoing softening of the economy, many of these national players are bound to disappear again, leaving smalll local banks as the only option again.Since you're interest in Detroit, keep reading below:We think the Midwest is a GREAT place for OOS investors to consider!

Prices are softening because fewer people are buying due to higher interest rates.

We’re already feeling the effects of a softening but on the multi-family investment side of the equation there are factors at play that should help offset what the downward pressure rates are putting on pricing. 

People who don’t own a house right now are already renting and like I said they more supply keeps coming on the market for them so that will soften rental prices. 

We're selling our primary residence to capture the equity currently in the home, before more softening in the market.