It seems several things are at play here (Big Surprise! Economics is complicated)...
1. Post-pandemic bubble (low interest rates + people learning to work remotely + some jobs going away and people being forced into retirement + other stuff?) ends, as all bubbles eventually do.
2. Interest rates for mortgages double, then triple
3. Developer continues to build new homes
4. Old people continue to age out of TV
I'm sure I left a few things out...but those things I mentioned are more than enough to slow things down and increase inventory. It's not a great time to be forced to sell. It might be a fortuitous time to buy, if you are looking to buy a home in TV.
Markets swing. Welcome to the real world.
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