Indeed, but supply & demand says that less inventory in an otherwise normally-operating market should see prices increase. Yet, price-to-list is < 100%. It's h

Indeed, but supply & demand says that less inventory in an otherwise normally-operating market should see prices increase. Yet, price-to-list is < 100%. It's hard to know what that means. Are sellers pricing the low-inventory situation into their list price and then only getting a fraction of that markup? Does the inventory suck, meaning lenders won't even finance it, thus reducing the price? Are all-cash offers at the $1mm+ price point so tempting that sellers are giving up 8%? Are buyers just giving up?