In Orange County this month, Inventory is up 25% from last year.  Demand is down 28% from last year.  Prices have mostly gone up.  Interest rates, higher prices, and concerns about the economy all play a part.  But people still need to live somewhere, and rents are at historic highs and climbing. If sellers are realistic, especially about how long it takes to sell, and how pricing matters, and buyers are thoughtful and discriminating, there are great opportunities for both.  Note the days on market for 2018 trend.