Ok, I'm a Realtor. My livelihood depends on people buying & selling houses. Simple enough..... however nothing is moving so I have plenty of time to ponder why. Let's take a look at the situation. Who would want to move? If you did some good financial wiggling in the past few years, your interest rate is anywhere between 2.2 to 4.5%, right?
The price of houses "grasshopper jumped up" coupled with the interest rates going up because of inflation. How in the world can you justify buying the same (if not less) square footage for more money with a higher payment? You just wouldn't.... so most people are stayin' put.
What's gonna happen?!?! Eventually the Fed's will soften the rates, the pent up demand will pop and the market will be flooded with movement. This will most likely make prices move down a bit becasue there will be so many houses on the market. There will be a shuffle and after a resounding round of musical houses things will calm down again.
If you are thinking about moving in the next few years its' time to paint the master bedroom, declutter the garage & buff up the yard!! Put your very best foot forward and call me when your ready!!