IDK if any of this helps but this what I have observed / experienced among the clients we work with. 

Based on the provided real estate data for San Jose, CA 95111, there appears to be a seasonal pattern in home sales activity and prices:Peak Season (Spring/Summer)The data shows a higher number of home sales occurring in the spring and summer months, particularly from March through August.Home prices also tend to be higher during this peak selling season, likely due to increased buyer demand.Off-Peak Season (Fall/Winter)There are noticeably fewer home sales recorded in the fall and winter months, from around September through February.Home prices also tend to be somewhat lower during this off-peak period compared to the spring/summer months.This seasonal pattern is quite common in real estate markets, driven by factors such as:Warmer weather and longer days make it more convenient for buyers to go house hunting in spring/summer.Many families prefer to move during the summer when children are out of school.The spring market is fueled by annual bonuses/tax refunds providing down payment funds.Sellers often list their homes in spring to take advantage of the higher buyer demand.However, it's important to note that this is just a general observed trend.

@Abhishek Agarwal It's the boots on the ground observation that I am referring to.

@Shivani Kumar With family that has a portfolio in the suburbs my observation is that the market is too saturated.

Something I've observed for many years is that the price of housing in the Boston area has skyrocketed. 

I like the camaraderie, folks help each other with issues that arise.It is my anecdotal observation that in some groups, folks mostly invest with the main character, who gets rich(er) and the folks make some money. 

Non syndicated investments have specific caps one must observe.

I suspect that is driving some of the behavior you are observing.  

It's interesting that many of these VC-backed PMC's, despite having 10k+ properties under management, aren't doing well financially - one of them just merged with another industry-related company also not doing well.Just for fun, here's a partial list of PMC expenses that owners pretend don't exist:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why something is taking so long, and more & more & more...OBSERVATION: many owners only want to pay a flat fee or 50% of a month of rent as a leasing fee - without realizing the repercussions. 

Growing up in a household with 6 siblings and parents working hard to survive living in California I became very observant of what others were doing to make money.