Been listening to a handful of people rant and ramble about wanting to move today and talking about how they STILL can't get a house since everything is still being snatched up before they make an offer. At the same time they're also talking about how their houses were sold literally the day after they put them on the market.

Now before any of you start, don't start with the blackrock/vanguard crap. In literally every instance I've heard today it was a private transaction between two people. No big companies involved and this is in an area out in the middle of the freaking boonies. I know the realtor being used, and it's a VERY local company that only operates in three local counties.

Now having said all of that, I'm curious. Is the housing market cooling off where anyone else is? I was under the impression that it was starting to since housing sales and mortgage applications have been decreasing more and more every month since the start of the year, but this kind of threw me for a loop.

Though, in all honesty I haven't understood the residential market at all for the past several years since it hasn't made a bit of sense when you'd see a house on the market literally every week with a new owner selling it.

The literal only theory I've seen that makes any kind of sense is that people were buying into a new area in such massive numbers that their houses were increasing in value by an absurd amount on a weekly basis, thus leading to them selling their new house immediately so they could buy a "nicer/bigger" house with the added value. Which would explain a lot of that, especially when you consider that up until this year we had record low interest rates.

But I digress. I was under the impression that was finally starting to cool off given the current economic climate, and I'm curious if this was just an isolated incident of not. The people I'm talking about are wanting to move to a South Carolina Beachside community for reference. So that might be a factor since beachside housing is always kind of lacking in supply.

And again, BLACKROCK AND VANDGUARD ARE NOT A FACTOR IN THIS SPECIFIC INSTANCE. Though from what I've seen, they've apparently been losing literal trillions of dollars in assets under management anyway as people have started pulling their investments, so I don't think they're a threat like so many seem to think anyway. But that's another rant all together.