Jonathan Levin at Bloomberg writes that unusually low supply has buoyed prices as mortgage rates soar, but a springtime flood of new listings is poised to tip the equilibrium…(Bloomberg)
The start of the year, of course, is when homeowners and real estate agents start to bring new inventory to market. It’s a time-honored tradition that draws on some smart strategy and a bit of industry lore. As the thinking goes, buyers and sellers often want to get their transactions closed by summer, especially if they have children starting at new schools in September. Agents also contend that homes look their best in spring, surrounded by lush landscaping and emerald green lawns. Even if sellers don’t come out in quite their usual numbers this year, there may still be enough additional inventory to push home prices over the cliff.