I look at net absorption which is the rate that office spaces are filled over what they were vacated at. 

There is a TON of absorption out there. 

I was looking through houses in San Antonio on Zillow, and I noticed a high number of properties that are in auction, and a high number of listings showing up each day.Would anybody know the absorption rate in San Antonio Texas right now?

Also, find new housing and find good info on their absorption time.

They are experts at highest and best use, absorption rates, and they follow the local economy closely.  

Derek makes good point, get access from a realtor to MLS data regarding absorption rates.  

There should be no problem of absorption.  

Also get raw data on sales and absorption rates for similar land.  

According to CNBC report, today home buyers loan applications increased by 4.36% as compared to last year in the same week, but market absorption rate is really low along with the inventory. 

I also see a level of shadow inventory that must eventually go through, slowly or dumped, but either way, the absorption of such inventory will create price drops, not increases, regardless of how small or large.I can not speak for the entire country and I agree with you 100% that studies are only worth the data going in, many of which are scewed by whichever motives.I can tell you for sure that the bottom of the So CAl market did ot hit 18 months ago nor did it 6 months ago.