Last year it was Interest rates....This year, Inventory is the word In the comments tell me what you are seeing on the ground. Are you seeing more homes for sale? Less? Are buyers out there shopping or just waiting? - Existing home sales ↓ 8.4% in January - Pending sales ↓ 1% month-over-month - Affordability index at 102 (it was ~80 in 2020) - Inventory is up 8 Month over month This is exactly what higher inventory + higher payments looks like. Buyers didn’t disappear — they just got have too many options now. They have choices now and they’re doing math again.