Pension stampede

In the four weeks ended Sept. 16, more than one-quarter of the homes listed for sale had a price drop, according to Redfin, a real estate brokerage. That is the highest level since the company began tracking the metric in 2010. Redfin defines a price drop as a reduction in the list price of more than 1 percent and less than 50 percent.

Then add in the higher mortgage rates.   It is happening faster in the west, where the hot markets are.  The west aloso host a shitload of public sector workers, and a whole generation is retiring; They sell the house and move to cheaper, smaller hime.