My take is there is so much pent up demand and so little available that pretty much anything that's in good condition at a reasonable price is moving fast.

What you will see is a pent up demand being released.

Right now today we are in a phase known as "Pent up demand".

There is just too much pent up demand, which will gobble up any and all increased supply resulting from interest rates dropping.

But if rates go down to the 6% range by spring I think we will see a lot of properties come on the market and a busy spring market with pent up demand

Yes, we all know there is much pent up demand right now.  

You will start to see lower 6’s being advertised.I think this is a pivotal moment where if you don't get into the market now the next few years will be brutal as competition and pricing increases.Macro, strong demographics, and pent-up demand with a lack of inventory.

We are heavily under built and there is extreme pent up demand to purchase a home today.

You need to be able to build cheaper than you can buy and the rent needed to justify the project should be lower than market rents or it doesn't make sense to build unless there is zero inventory and pent up demand.

If mortgage rates ease, we’ll see both pent up buyers and sellers entering the market, and home prices will increase in 2024.