As the current inventory of existing home sales continues to decrease, it is putting a strain on the existing market. We are seeing scores of agents and their buyers fighting for an opportunity to show listings. There are multiple offers being placed on each property with the lowest being FULL ASKING PRICE. As of March 2021, there are more agents than there are listings. WOW!!!
Meanwhile, with all of this buyer frenzy being created, the banks are sitting on millions of defaulted loans. Also governments have postponed evictions at record levels and investors are liquidating assets in preparation for a massive inventory wave. As a result, this bubble is sure to burst! The only question left to ask is when will this all come tumbling down.
