How Patient Are Homeowners? : Planet Money : NPR
It’s a reminder of how sticky home prices are: People who are selling can often afford to be patient, waiting through a soft market to hold out for a higher price.
But there’s a limit.
There’s a year’s worth of existing homes on the market — about twice as much as normal. That’s a lot of homeowners biding their time. The oversupply suggests that, at some point, prices will start falling again.
