The chart above graphically illustrates how much the housing market has undergone a transformation in the last few years.
What is more or less similar over the period are seasonal changes – e.g. the drop in supply as sales jump in the spring. “Jump” does not, perhaps, apply this year. It was more like a hop that, anecdotally, seems to be fading. (Second-quarter figures will be released early next month, and you’ll find them in my newsletter on July 10.)
It appears that the trend line for this year Continue reading