They’re among the stragglers, behind other big markets whose inventories have shot up to at least decade-highs.

The situation in Texas and its four big metros, Houston, Dallas-Fort Worth, Austin, and San Antonio.

He who panicked first panicked best.

By the time they finally wanted to sell their home, it wasn’t easy anymore because demand had plunged, and fewer of those mortgages got paid off.

Demand destruction on an epic scale, after the price explosion. And inventories are piling up.