Much has been written in the past few years about the available housing shortage and its impact on home prices and buyer behavior. There is no doubt that Home Buyers should act quickly, yet carefully, in today's housing market.
However, truth be told, both Buyers & Sellers should act with urgency whenever they're in the housing market. Why? Because there are a lot of 'moving parts' (no pun intended) to the sale or purchase of a home that are beyond a Seller's or Buyer's control and can affect a property's sales price up or down.
Fluctuating mortgage loan interest rates is the first thought that comes to mind for most people; however, there are other parts of the process that can affect the affordability of a home and which are beyond a consumer's control, such as natural Acts of God (hurricanes, tornados, earthquakes, floods & fires) that can destroy neighborhoods or entire regions in a matter of hours; congressional decisions regarding federal or state deductibility of property taxes & mortgage loan interest paid which affects a home's affordability, IRS rulings such as those affecting capital gains' exclusion from taxes & 1031 exhange transactions, the Federal Bank decisions regarding the buying of Mortgage Backed Securities by the Federal Government (presently the federal government is buying $40.0 billion in mortgage backed securities each month--providing a great deal of liquidity to lenders so they can continue to fund & sell loans), etc. National politics, world events and corporate decisions also impact interest rates, currency rate changes & local economies (for example, a corporate decision by a major employer to relocate to an area may generate many more jobs, which often result in increased home prices & affect schools & other services), etc.
We can correctly view our family home as a sanctuary and an investment but it is also a commodity heavily regulated by local, state and national government policies. Therefore, once a decision to Sell or Buy is made, it's best to act decisively & quickly.