wondering what is happening there?

Just in our opinions......

The real estate market doesn't seem to change much BECAUSE it's a cash economy. You want it, you pay for it. Yes, financing is technically available, but the rates are so ridiculously high, that it's not a real option.

So, if everyone owns their property, when a place hits the market, the price rarely changes because it costs a minimal amount to hang onto it until you get the price you want/need, We see many, large number of properties sit on the market for years until the right person comes along. Our house was on the market for 4.5 years. It's a whole different world.