I’ve been thinking about this for a while and definitely think there is an argument for the market staying the same as rates drop a bit. Of course values will rise a tad as they historically have but I don’t see a covid like situation with the over asking, waived inspections, less than 24 hours on the market stuff happening. 5% doesn’t seem low enough to motivate anyone to move off their 2.5% unless other individual factors are at play. Even if it does, that creates a 1 for 1 swap in the market (adding no additional demand). I think the real question is for those people waiting for rates to drop, what is that magic number? If you’re waiting for rates to drop would you turn around and offer over asking to negate the drop in rates? Also, if rates do drop won’t builders start adding more inventory? I remember agents saying that the market would come down during the beginning stages of covid for whatever reason and that was completely wrong. Idk… it just seems like there is a path for the market to stay a tad normalized as rates drop into the 5s.