The market definitely ramps down from Labor Day to Thanksgiving, and typically goes pretty quiet from Thanksgiving through New Years Day. Then once you are into the new year the market slowly ramps up again until the "typical" Spring market. This year the market hit a brick wall in late summer, and it seems like there is less coming on the market than we would normally see in that Labor Day-Thanksgiving listing burst. I have to think it's the interest rate rise, combined with the general economic uncertainty.

That's all based on my personal observation, and gut feel. I haven't drilled down into the actual data, I'm going to do some of that over the weekend.