Well, the roller coaster of the market doesn't seem to be settling down any time soon, but at the risk of repeating myself, it really is a great time to buy.
While mortgages for folks without great credit, etc. are tougher to come by, and rules are more strict for everyone (arguably not really a bad thing!), it is very possible right now to get a mortgage with rates in the 5's- that is completely fabulous, and who knows where we'll be after the election? It could go down, but it could also go up.
There is still quite a lot of inventory out there, and more folks are buying, and selling, but the supply is still greater than the demand, so as a buyer, you are still in the driver's seat, to some degree.
As for sellers, there are people buying, and they are not all "stealing" homes. It is more important than ever, in my opinion, to have a good agent on your side to really work for you, and for you to be prepared to get things done- you need to be prepared to reduce the price if necessary, as well as get things done that might be needed (painting, etc.)
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