"... for six to 18 months"
>> “For buyers, it’s been a tough go,” said Yun. “Not only have prices not fallen, there’s not much inventory.”
As an active homeowner looking to relocate in Seattle, inventory has not been good this summer.
I'll also say that IMO, the economy has not cooled. Even with all the tech layoffs, banking faults, the US$1M+ houses are still selling quickly. I spoke with a family member in finance, who kept saying a recession was coming. It never did, at least not one I can say that affected the economic landscape.