I'm not sure much changes here. People are simply not selling their home right now, because they know that the pool of buyers that can afford their desired pri

I'm not sure much changes here. People are simply not selling their home right now, because they know that the pool of buyers that can afford their desired price is smaller than it could be. There is definitely some effect where buyers are scared off by things like "on the market for 9 months", so sellers are kind of chilling right now unless they absolutely have to move. My advice is to not time the market too much. I bought late last year; objectively not the best time ever to get a mortgage (or to convert your savings in stock into cash!), but I also wasn't competing with anyone for what I think is an extremely desirable apartment. I paid $110k under the original listing price, but I think their original price was objectively insane and would have not sold at that price for a couple years. Keep an eye on listings; if there's something you want that you can afford, I say go for it. Because like you say, it's likely that rates will go down. (Don't bet your house on it, though. Get a fixed rate mortgage and then when rates are 18% 5 years down the road, you don't lose your home.)