[tomrod]

Pressure is on supply, demand relatively strong as ever.

Supply: low and expensive new builds, heavy rate lockin.

Demand: muted due to higher rates, but sometimes people gotta move. So a slight haircut, but in many areas most likely less haircut than supply constraint.

We are seeing some sifting in the market but I personally believe sales volume is driven by supply lockin, meaning its still a seller's market.