There are many elements (“forces“) that drive the supply (attempt to sell) and the demand (attempt to buy) homes. When a home is newly constructed, there are additional forces. Common to either type of single-family residence (SFR), mortgage rates, buyer and seller confidence, new home permits, and employment exert extreme forces on the supply and demand for homes. The forces affecting supply and demand are rarely tangible. Loan rates and supply are tangible. Psychology and the consequences of bad policy are not.

 Timing, Psychology, Location

Not all forces can be identified.