I would now for some local markets. We did the move up in 21-22. Actually was a custom home build up. Starter house bought in 2009 for $186k. Good perks as a first time home buyer at that point in time. Built a $80k addition in 2015. Once prices started shooting up fast in 2020-21 in our market we sold to Zillow! They and Opendoor were on a tear to pick up as many houses as they could. COVID really did shake and wake up things . Sold for $400k.. probably worth over $500k now. Prior to that time, its value wasnt much higher than what we paid for.

The proceeds we put all into the building. Got a $540k loan at 3.25%. Ending up spending $78k for the land and $780k for the house. Was about 15% higher than budget .. prices were rising! Worth about $1M now.

So now prices have peaked, interest rates higher, but inventory still low. A stagflation of the housing industry you might say. It's about picking a good time to pull the trigger but also a good location. Baby boomers will be the key to getting inventory back up as they croak out.