Many of my fellow real estate brokers and I have clients who have been house hunting, it seems, since time eternal. OK — well, since last summer. These hardy homebuyers have experienced competing with 30 other offers over the summer months, maybe got into and out of a contract or so when an inspection or appraisal went south during the fall, and have had their eye on the emaciated inventory throughout the holiday season.
Sellers have experienced the same exact thing, from the other side. While the best-priced, best-dressed homes in the best neighborhoods (and super-cheap homes everywhere) are now flying off the market, the middle of the market seems much more stagnant — especially if you happen to be a home seller whose home has been on the market for more than a couple of months.