While this market is currently booming, if we hit a recession, second home values decline faster than primary at the same time you are likely seeing a decline in bookings (for the same economic reasons).BRRR - LTR, with a flip at the front end.  

I think it’s going to be stable with slight increases or declines.

Residential REO listings have been tapped out for awhile.That market has been flooded for years.The costs associated with REO have many brokers leaving the REO side and doing the short sale side only.Because of recent government regulation on bank files and the ROBO Fiasco the volume of REO has declined and short sales have increased.Short sale the bank is working with the owner.Foreclosure the banks are being scrutinized so they are happy to take the short sale route if possible.

Hopefully a seller or builder will offer concessions to help with those, but seeing an overall decline in resale seller credits as well. 

First you meet nice people, a lot of great sounding offers, but after seeing actual loan contracts, a sane person had to decline and his/her own way. 

(One Dec 2020 (a 1% rent ratio in San Diego county) and two Dec 2021 (both great values - I have not purchased in 1.5 years which is my longest period without a purchase in over a decade)  There is often a slight decline in prices and less competition in December as life is busy with the holidays.  

Here's my thinking:I know this (IL) area a lot better so it would be easier to accidentally invest in a declining area in St, Louis/STL County.

I've seen a significant decline in my STRs in Orlando this month..

In all honesty I don't think there will be much of a decline, if any.

So between EVERYONE buying up our properties, the need for properties going to skyrocket over the next 12-24 months, and the available opportunities slowly declining, now is the ONLY time to buy BRRRRs out here.