Yea, I think you are right that that is his thinking, but I still think the logic is flawed. Sales of homes by homebuilders are under a much different dynamic

Yea, I think you are right that that is his thinking, but I still think the logic is flawed. Sales of homes by homebuilders are under a much different dynamic than existing homes sold by homeowners. Homebuilders can and will reduce supply while they wait for the prospect of better profit margins even while existing home sales are showing increased demand.