Most people still purchase a house to be their home. They don’t buy for the short term investment. They buy for a place to live as a family even if it is a family of one. Is it an investment? Of course it is, but it is my home first.
However, we do have the ability to use something called “Logic”. It doesn’t get used much these days. Logic has become the ancient scroll of reason that have been buried in pop culture. I hope someday it’s star will shine again.
If you need something to worry about, go for it. I don’t think it is a big issue. The Seller Dumping didn’t happen, the dumping of REO homes on the market causing Sale prices to plummet is another thing I don’t see happening.
The one thing that jumped out at me in the year over year comparison was the Average Sale Price. It was UP for the first time since Feb. 2008 over the previous year.