Of opinions there is no end. I listen to everyone and everything but in the end, I act on what I know or want to do. My counsel? Buy now or Bye now.

I don't follow "national" statistics like these, Fred. Real estate is very local, if not downright hyper-local. Many parts of the Charlotte region are still tight on inventory.  

Speaking for San Diego, CA we're in a sellers market with an artificial buyers market vibe. Multiple offers have returned, inventory is as low as the 1970's here and rates will be descending this year sending us back into non-negotiable sellers and bidding wars by mid-to-late summer. By the way rates today are still amazingly low lest you forget 2007 and back where they were 7%+

Our mid year peak dropped 20%-ish but our year over year fell by only $1,000 i.e. $750K Dec 2021 $749K Dec 2022 average home price.

YOU LOST ME AT THE NAR. 

NATIONAL STATS MEAN NOTHING TO ME. 

In total agreement with Nina Hollander, Broker. Real estate is always local. We are very much still in a Seller's Market (less than two months of inventory) and while we're not selling within a week like we were last year, we're (on average) selling within a month. And prices are not rising as dramatically as they were last year, but we're still seeing a steady monthly increase. In Colorado Springs, we're still in a healthy market.

Judging by the inquiries from discounter investors, they THINK it is . . . but real estate remains local and hyperlocal . . .CRE in my target area is not the least bit distressed.

The headlines are bigger than the actual numbers.  The "sink"  is still a smaller number than the rise that we have experienced over the last two year.  

The home market here still favors sellers while the land market favors buyers. Real estate is soooo local!

Our local market is strong with low inventory. Properly priced homes are "flying out", depositing quickly. 

As we all know real estate is local. In my specific market area things are selling and closing. 31 Actives  27 Pending and 21 Closed since Jan 1 between 500K and 2.4M.

It is my belief that it is always a buyer's market.

We have a 45 days on Market for a average in the Denver market.  Buyers still think that interest rates are to high.

Have little faith in most reporting agencies and less with NAR, especially when it comes to contrived numbers. Buyers will buy and seller's will sell!

Consumers are  so confused because of all the different "news" being reported. 

We only have 1.3 months of supply with median home prices the same month over month as the year before.  We have a strong seller's market in our area.

i wrote to "over asking by a little less than $10k" with some serious, first time homebuyers in our area and we lost both -- I believe due to the type of loan.  They are doing an FHA loan. Unfortunately we are still competing in this area for nice, move-in ready homes under $200k.  Multiple offers!

Don't pay much attention to national stats but noticeably absent in this article that seems to be omitted from the actual NAR report is that inventory in most areas (and here in Metro Columbus) remains below 3 months which is still a Sellers market, so NO!

We're down in sales about 25% over last January, but that's because inventory is down, we still have buyers and prices are holding steady.

Inventory has not gone up much at all since the first of the year, and seeing 3x the amount of pending properties.    I think it will be a tight market again in Denver for spring buyers.

No we still have scarcity in the lower price points 

I'm currently in a bidding war on a property that just hit the market today, Fred! The national reports just never seem to fit our market here in the Charlotte Metro...thankfully!

I suspect that the buyers got a small reprieve, moving back into a strong sellers market by summer.

Far, far, far away from a buyer's market.  NAR has lost trustworthiness in my eyes.

Fred, When it was time for me to buy or sell over the years I did it! Bought when rates were close to 20 % and sold at what some thought was the wrong time. It worked for me. So I say when it is your time it is your time. I don't factor in national statistics. Some say I am a non-conformist.

Nationwide, we're in a weird market --- it's important to consider, when looking at YOY numbers, early 2022 the market was still on FIRE, so we're comparing an abnormal market (today) to an abnormal market (then), but entirely different abnormalities.

Buyers can get some discounts today due to a lack of competition, but sellers have been happy to de-list their homes if they don't get the $$$ they want, and most are sitting on rates that start with a 2 or 3 so they're in no rush.

That said --- we had a 2 week period in January of rates near the 5s, and loan application volume spiked 108% during that time (80+% of which was for purchase applications) --- this tells me that rates are the dam holding back the flood of borrowers that are likely to re-enter the market if and when rates dip ------ and with a lack of inventory nationwide, this slight buyers market could quickly return back to a sellers market, so today's buyers would be smart to buy sooner than later.

There is no buyer's market when there is a lack of inventory and homeowners are not desperate.  There is now sense of urgency yet.