Reply to I think the bubble is popping.

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Reply to "I think the bubble is popping."

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[quote=Anonymous][quote=Anonymous]It's seasonal too.

Surge of inventory that we saw in June was the last chance for sellers to get on the market in the hopes and selling and moving in time for the upcoming school year.  There might be another blip in July as everyone tries to list before the August vacation period.  Activity will pick up again after Labor Day.

This is all typical yearly behavior.  But maybe what's typical is also unexpected because of what a crazy year it's been[/quote]

Yes.  This is all correct.

We will see a slow return to normal, but not a pop.

that means the home prices will remain where they are, or increase at rates consistent with regular growth and will stop increasing at crazy rates.  But it does not mean that home values will go down.

a return to normal means homes may sit a big longer.  It doesnt mean they will sit for months at a time.

a return to normal means inspections and appraisal contingencies.  It does not mean low ball offers or sellers paying closing costs.

And ultimately, this is a good thing.  A slow return to normal, not a pop, is whats good for the whole community/economy[/quote]

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