The new tax laws definitely create a speed bump in home buying (for the small few who care to even consider it) but people are still going to build families, have kids, want to own homes and in the bay we have a pent up population of high income earning millennials who are doing exactly that.

Sales prices reached new heights, inventoryhit rock bottom, and homes sold in record time, often for well above asking price.Mortgage rates, which began the year at historic lows, remain attractive, andhomeowners who choose to sell in the coming months can expect to see plenty ofbuyer activity due to pent-up demand during the pandemic.New Listings were down 4.4 percent to 392.

Our company has pent up rental demand, when we list a unit we have tenants waiting for units to go live that are pre screened. 

I believe there is too much pent up demand for things to fall as far that fast as you expect, but yes the market will correct.

I suspect that the industry trends are being driven by a combination of factors that are sometimes contradictory: (1) gas prices, (2) pent up travel demand & (3) the traveller's perceived personal risk to Covid. 

The resulting surge of pent-up sales cemented July 2020 in the real estate history books as a record-setting month that could not be rivaled by the rapid-fire pace of the current market."

While April’s industry lockdown hampered performance, pent up demand and record low mortgage rates propelled the rest of the year.The year saw over 9,000 fewer new home listings compared to 2019.

Meaning we're chewing away at the pent up demand at a good clip relative to last summer and prior.

From the government printing money and lowering interest rates, then adding stress test, to pent up demand and increased savings (for some), it's going to take a while to stabilize again!

Hi @Jake Jaenicke Orlando continues to exceed expectations of many STR investors due to the pent up demand of travers and we haven't even opened up to many parts of the world yet.There are many resort style communities that will out perform communities that 'allow' it.