"Home prices are way too inflated. I'm going to wait until they come back down to earth."
Response Framework
Acknowledge the perception → Challenge with supply/demand data → Quantify the waiting cost
Validate that prices feel high — they are higher than 5 years ago. But challenge the assumption that they'll drop significantly: low inventory, high demand, and construction costs make a major correction unlikely in most markets. Show supply and demand data for their target area. Then quantify the cost of waiting: if prices rise 5% while they wait, on a $500K home that's $25,000 more — plus 12 months of rent. Help them see that waiting for a correction that may never come is itself a financial risk.
Key Phrases
"Prices are high — let's look at why, and whether a significant drop is actually likely."
"Supply and demand in this market suggest prices are unlikely to drop significantly."
"If prices rise 5% while you wait, that's $25,000 more on a $500K home — plus rent."
"What level of price drop would make you feel comfortable buying? Let's see if that's realistic."
Pro Tips
Pull local inventory data — low supply is the strongest argument against a price crash.
Calculate the 'cost of waiting' in both price appreciation and rent paid.
Ask them to define what 'prices coming down' means to them — it forces realistic thinking.