I'll just drop this here....From Zillow
Oh and note the sunny side presented by a dumbass Realtor(not that there's any other kind)
After nearing a 15-year high earlier in the spring, survey-based measures of home buyer sentiment have slumped in recent weeks. Data from The Conference Board suggest that 4.3% of consumers surveyed in May plan to buy a home in the next six months, the fewest since February 2013. In April, the share was 7.1% — just below the highest percentage since 2006. (Note that the survey’s results from 2021 thus far were revised this month due a change in methodology). The series tends to vary quite a bit from month to month, but the 2.8 percentage point decline from April is the largest one-month decrease in the series’ history. The Conference Board measure echoed figures shared earlier in the month by Fannie Mae – which showed that more people believe it’s a bad time to buy a home rather than a good one for the first time since at least 2010. The figures were also followed up later this week by data from the University of Michigan, whose measure of buyer sentiment plunged in May to its lowest level in over 30 years. Combined, the survey-based measures indicate that would-be home shoppers could be losing confidence in their ability to compete in a market that is one of the hottest we’ve ever seen. That said, separate surveys of realtors that highlight market activity suggest that buyer demand remains very firm and actually continues to climb. And market data seems to reinforce this – nearly 50% of homes sold in April were on the market for less than a week before going pending. What’s more, the University of Michigan’s gauge of seller sentiment spiked in May to their highest level ever. Taken together, the measures suggest that while the market remains competitive, a rebalancing of the market may finally be on the horizon, and that supply may finally be starting to catch up to demand.
