Definitely looks that way in the UK - I've been watching my local housing market like a hawk because I'm looking to buy soon. Houses are staying listed a lot longer, a fair few getting reduced, and newer listings are coming in at more reasonable prices (as much as over £100k is reasonable for a 1 bed flat miles into poverty stricken suburbia).
I think people are feeling more risk adverse cost of living etc and want to hold onto money and stay put where they are.
I think people are feeling more risk adverse cost of living etc and want to hold onto money and stay put where they are.