SELF FULFILLING PROPHECY ALERT !!!!!!
The media has been screeching about a housing bubble for almost a year now. Anybody who was on the fence about selling in the last few months is probably thinking "it's now or never" and many folks are putting their homes on the market hoping to cash in "before the bubble bursts". It isn't a shock that many more homes are on the market and it isn't a shock that buyers are being more careful because of higher interest rates and because right now, there is so much real estate to choose from.
I know several agents that right now, have 2-3 times the number of listings that they normally have. Not because the houses can't sell but because everyone who can, wants to sell.
No, this is not the media's fault...this is the Fed's fault...they allowed the market to be awash in cheap money, which allowed housing to unrealistically skyrocket....and now it is time to pay the piper.