You’ve heard inventory is tight – it is. What’s even more striking is that half of the current inventory is stale – having been on the market for more than 30 days. This makes every new listings extremely competitive. This article in the DBJ sums it up well.
But, at what point do buyers get so frustrated that they abandon their purchase plans?? I’m not sure, but I do think that Buyer frustration will be one of the elements that helps the supply/demand equation tip more toward balance however, I don’t think it will happen this season ( although there are small supply “ripples” which are appearing)