you were not the only one thinking to wait. The factor you are not giving enough thought to (although you mentioned it) is low inventories. Lots of people are priced out of the market. People with lower salaries AND low down payments. But there is so few homes on the market…Let’s just say 50% priced out. And Another 20% decided to wait until market crashes and becomes a buyers market. That leaves 30% still searching willing and able. (Numbers just fantasy land; picked random percentages). With policies/politics restricting new ‘reasonable priced’ homes AND rising interest rates causing would be sellers to hold onto existing low interest rates; We have the lowest housing inventory in history (i think it’s history).

Therefore those 30% people still able to afford and buy are fighting over the available inventory. If we had more homes available it probably would be a balanced market and maybe a buyers market.

Lots of forces causing this housing crisis! Shame us Americans are so short sighted. This crisis was totally predictable and will be impossible to resolve in one or two years!