Mortgage rates are now over seven percent and they are the highest they've been in twenty one years according to Freddie Mac! Rates could keep climbing toward eight percent.
Sellers are adjusting their expectations.
Why would they sell in this market, just to have to buy and pay a much higher interest rate thatn the one they probably have now!
Inflation is still too high and the economy is too hot, and that's not good for the housing market.
Look at this article.