In other words, price discovery happens at the margins. Most people don't realize this but it's true. You can move the prices of all houses in a market by movi

In other words, price discovery happens at the margins. Most people don't realize this but it's true. You can move the prices of all houses in a market by moving the sale price of less than 0.25%-0.5% of the total supply. Some people will learn this fact the hard way when prices go the other direction.