If the home wont move at an elevated price, you can still break even renting it out. There is no incentive to drop the price. Most owners have a lower rate. Even a 4% from 2021 and earlier is a big difference. Why cut the price and lose equity when all of social media is screaming at people to become rich landlords?

Austin and San Antonio absolutely exploded with rental unit construction. There are simply too many places to live and too many options and rent prices have taken a hit. It has been a domino effect from there. Nashville is another one to keep an eye on. Tampa and Jacksonville I suspect could be soon as well.