The market really isn't that scary, the idiots paying 150-200k over ask in the winter are now having to buck up and close on those houses. I know of 3 places that went for absurd amounts of $$$ and the buyers backed out. So it's either release them from their contract and keep the deposit, or sue them. It's a crappy situation for the sellers, but people must have known there was no way that was sustainable. Houses are still going for over ask, but there are a lot more prices corrections these last few weeks (gf is a realtor, I have heard some interesting phone calls, lol!) I doubt we'll see 18% interest rates like we did in the 80s anytime soon. I'm glad when we bought when we did, our house has almost doubled since Sept '15.