I think that is a mostly correct assessment.
Springtime the "for sale" signs averaged about 2 weeks or LESS before they sold. Now i see signs up for months. All of the late bloomers decided to sell at the "top" and I think they are late, overpriced, and may take less than they wanted by next year. The smaller, flipper houses are standing vacant the longest (poorer neighborhoods). Rents/leases are $200+ per 100 sq ft. Out of national news, Nashville got 5000 Amazon Tech jobs coming. average salary 150k..so what I see may be short term.
Most popular neighborhoods have very few homes for sale and what does sell gets a tear down and new build. The ironic thing is a loophole in the building code here that allows up to 4 homes to be built on a lot. Small and medium developers are buying these 40s, 50s era houses on .75acre to 2 acres and putting in multiple "tall/skinnys" 5 ft side separation, 30 ft front to back setbacks and making 7 times their investment on one lot. Reminds me of row housing in Chicago or Philly actually. A group of these caught on fire this year and I think that game will dry up in a short while, because of the REAL dangers. Millennial's love this type of housing though.
