Within a matter of 30 days we have gone from a Hyper Sellers Market to more of a Balanced Market. So what does this mean for buyer and sellers. It means live your life and make sound decisions based on your current needs. Do not attempt to "time" the market. It rarely works.
If selling your home, the Fall makes an ideal time to sell. Why? Because there is typically less inventory on the market. Less competition is good! Buyers are more focused on getting into a home versus waiting a month to see what else comes up. Buyers also want to be in their new home before the holidays
If buying a home, now is the right time to buy. Interest rates in the 5% range might sound a little scary however on a historical basis, that is a great number. Don't wait until the next pandemic or financial crisis to get those insanely low 2 1/2% rates. Texas is in high demand and with the exception of maybe Austin, the Texas market is still a bargain compared to most of the country. Considering this, I do not see any substantial effect on pricing over the next few months. In fact, with with lingering high inflation rates, I would not be surprised to see price continue to increase over the course of a year.
So bottom line - if your needs are currently to buy or sell. No better time than now! Better yet, save thousands of dollars in commission when selling with Texas FSBO