Your timing on purchase was good. You bought a house you will own 24 years from now for less than monthly rent. Whatever it is worth at that point is a great bonus. If you had to move, you could rent it out and cover the expenses.
If you wanted to sell and buy back cheaper you have to have good timing two more times. Unfortunately you already missed the first mark, and by the time you sold (assuming this fall) you could easily be down another 5%, making it 15% off the peak, plus 8% selling costs. If prices drop only 25% off the peak you will have gone through a lot of hassle AND would have to time the bottom correctly to make this pay off.
