The Housing Market Is Passing an Inflection Point This Spring ...

That doesn’t mean a housing crash is coming or even that prices will fall, but rather that the pace of price growth is likely to decelerate and more homes will be available for sale. More inventory is both the consequence and the cause of a more balanced housing market: It gives home shoppers more options to choose from — limiting the number of buyers bidding on each home — and lights a competitive fire under sellers and their listing agents to make their homes shine, and to be wary of overpricing. If they trim their construction plans out of caution, we will miss out on one of the best hopes we have for net new inventory on the market, and the inventory crunch that’s helped push prices up will persist for longer than expected.

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