Going into 2023, it is a much different story than going into 2022. We actually have a lot of inventory to choose from in most areas and price points. Here is a quick snapshot:
These numbers don't mean much without some historical reference. Therefore, here is the same analysis for December of 2022. You will see that there were 641 single family homes closed in December of 2022. That means we have less than 2 months of inventory on the market staring 2023. Most economists say between 3-6 months of inventory is a stable market.
I hope you were able to collect referral fees from them. :) Prices were inflated due to all the bidding wars. When things cooled down with the higher interest rates, some sellers were slow to respond. The market is much healthier now.