Here's a pragmatic overview of the current real estate market by

Ryan McMaken from The Mises Institute.

While location, price point, and the home itself present different variables to the market, a "feet on the street" summary is buyers are pushing back on pricing.

Locally, we've seen a return to a more traditional market, where buyers and sellers negotiate, contingencies are permissible, and buyers have more than a few hours to decide if they wish to purchase the home.

While not a buyer's market, it's a much better time to be a buyer.

https://mises.org/power-market/home-prices-and-sales-fall-can-sellers-count-lower-interest-rates