Should we wait to buy until more homes are on the market and prices may drop? NO! Today’s sales are setting a new market for homes in hundreds of neighborhoods. For example, a home listed in January at $500k that is closing for $550k in February has just reset market values in that neighborhood. Any new seller will be trying to sell their home for at least $550k as well. Thus, you can’t buy a home for $500k in this $550k neighborhood anymore.