If someone purchased a house in the last couple of years, put a lot of money into it, and want to sell today at a much higher price, this market will probably disappoint. But only if you are also not buying something else to live in. Because the losses on the sale will be made up for by the lower price paid for the new house, and with historic low mortgage rates, there could very possibly be a good opportunity.
Today's housing market has created opportunities to people with reasonable credit, who have the downpayment, and want affordable monthly payments, because the low mortgage rate translates to many hundreds of dollars in savings. In many ways, there has never been a better time to buy.
Do your homework, analyze costs, find a great house, and "go for it!" Enough of the gloom and doom attitude - - - long term, especially if you plan to live in your new home for several years, there has never been a better buying opportunity!