Well... crap. This bodes well for me as I’m trying to sell mine.
It’s all regional. Depends greatly upon where you are. Here, the market has only been so-so since the nineties. Not much bubble to burst, but there was a marked slowdown up until last year. Now, houses are selling better locally than they were before 2008. Manufacturing region, on-shoring plus cheap natural gas are making a huge difference.
Don’t get too discouraged.
I’m trying to BUY some of these REOs, and the banks aren’t putting them on the market because they don’t want to depress prices further.
They do have big inventories of houses, but they’re sitting on them,
so - your house will sell without competition from a flood of foreclosed properties.