Take my market for example in San Antonio. Supply is stabilizing near record highs. It did result in an end to bidding wars but prices are still 50%+ higher than pre 2020.


Even Utah has seen a large increase in inventory. Still on the low side but you would think prices would have been impacted more with such a dramatic change in inventory. Prices are in fact rising again in Utah. Rates seem like the primary issue now. Much more impactful than supply at the moment.