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Yes in time, but don’t expect a massive supply to appear. Most of the largest residential builders operate on build to order models so they’re not just building homes just to build them, but will when they’re under contract. Supply of prefab and starter homes will “increase” and likely be gobbled up right when they’re built so not like there will just be free and available homes going unsold on the market.
Commercial or residential? Commercial should adjust to market first due to shorter term loam maturities and little to no amortization. Owners will be forced to accept the new market. Residential with 30 year amortizing mortgages will largely wait it out.
Oh yeah this is a good call…we negotiated the rent for our store down by like $1k per month because the landlord saw city-wide vacancies increasing. So yeah commercial reacted pretty quickly to market conditions
With interest rates going up, I see demand slow down even more. Inventory will pick up in the spring/summer. Hopefully.
I don’t have any numbers to back me up, but IIIRC inventory would need to increase by magnitudes in order for that to be the cause of lower prices. High rates are preventing owners from moving, and new home construction has dropped
I personally believe that the only way for prices to come down is if there is a larger economic issue. For example, if unemployment goes above 10%, that would signify a financial crisis significant enough to lower both rates and home prices