Actually, I listed one particular property in January and we had a signed agreement within three wks. The client wanted me to list the property in early December. We used that month to prepare the home and it was listed with an initial offer price that was correct for the market.
As for the future of the market prices, no one knows. I do know that it is about as close as it will be for buyers to make an investment in a home. Interest rates are about as close to bottom as they will be. There are individuals wating the Fed to drop the rates even further, but there will be no guarantee on how far down they will go. I don't think much further below 5% for the consumers.
It also depends on what you want to do with the home. Are you going to fix it up and sell it? Or are you going to live in it for a good period of time. Flipping the home should only take six to eight weeks. The market shouldn't change that much so quickly. Ten years from now, if you choose to live in it, the economic situation should long be over with and you should make a decent profit anyway.
If you are moving from a smaller to a larger home, now is the time. If you are moving from a larger to a smaller home, now is not the time. The choice is entirely up to what your needs are. Don't try to second guess a market which can't be predicted.