40% More Home Sellers Than Buyers (Credit Quality Of Mortgages Deteriorating)

For all the cheerleaders for housing markets, I hate to be the contrast voice.

Per Redfin, home sellers outnumbered buyers by 43.1% in March…up from 28.0% a year ago but shy of December’s 45.2%, which was largest gap on record.

This imbalance is occuring as credit quality is deteriorating.