Rates went up in 2023 but the home values continued to rise. Rates are now dropping but the home values continue to rise.

The demand is so high that it will take a larger drop in mortgage rates for the vast majority of homeowners to budge.

Until we have an appreciable rise in inventory, I would not be sitting on the sidelines waiting for home\ values to drop before you buy. This is not 2008 by any stretch.

In 2022 home appreciation hit 6%. This year we will end the year 6-8%.