In 2018 the average US home price was $248k 
In Dec 2023 the average US home price was $382,600.
An increase of roughly 50% in 5 years. 
$100 in 2018 buys about $80 worth of goods in today's purchasing power. 
A d...

I was unable to sell it to the rapidly declining market conditions in 2008.

Markets like Colorado, California and New York, while they may not provide the best yields, there is less risk that the value of the real estate will decline and more often than not they are easier to rent out.

So, if we have a contingency of loan approval, they might decline our offer.

Consumer sentiment was way up (14%) in December, reversing all declines from the previous four months.

“Of course, that’s likely dependent on the extent to which mortgage rate expectations are met with actual mortgage rate declines.”At 6.56 percent on Dec. 29, rates on 30-year fixed-rate mortgages ended the year down 1.27 percentage points below a 2023 high of 7.83 percent registered on Oct. 25, according to daily loan lock data tracked by Optimal Blue.But Palim cautioned that even if mortgage rates keep falling, economists at Fannie Mae continue to believe home sales will post only modest gains in 2024, with elevated home prices continuing to pose affordability challenges for first-time homebuyers and others.The Fannie Mae Home Purchase Sentiment Index (HPSI), which distills six questions from the National Housing Survey into a single number, increased 2.9 points in December to 67.2, in large part because of rising consumer expectations that mortgage rates will continue to fall.While only two of the index’s six components improved from November to December (mortgage rate expectations and buying conditions), the HPSI is now up 6.2 points from a year ago, and 10.5 points above an all-time low of 56.7 registered in October 2022.The survey also showed that consumers are less certain home prices will continue to go up.

I am not sure how long it will typically take to find a deal on the MLS- I have been looking for about 3+ months and seen about 15 properties, offered on 3 with decline and no negotiation.

Decline applicant and move on to the next.

While there is an increasing demand and many companies moving to TN, could there be a future decline in multifamily prices/rent?

Some of them get really mad when declined.