Like some others, I wouldn’t sell me primary residence unless we experience something like 2008 again. Back then, something that rent $1700 was selling for ~$550k. Today, that $550k house is now about $600k, but the rent of that house is about $2600. So, assuming similar rent to price ratio, price would have to get to at least $760k to even be in the same ball park. That’s before we’re talking about rent to mortgage payment ratio. In 2008, mortgage rate was ~5% and today, it’s <4%. So, if we're talking about mortgage payment to rent, we'd have to get to well over $800k to be in the same ballpark. Because of this, I don't see any major crash. At least nothing that would make it worth the risk in selling and rent.
Supply is still very low. If you want to sell, rent, and hope to buy at a lower price, I would keep an eye on supply. In order for this strategy to work, you have to be pretty sure that price would have to drop enough and in a short period of time. Else, rent would eat away at your lower price saving. Not to mention time and retirement. In 2008, supply spike before price start to fall. That would be what I'd keep my eye on to guess as to when price might fall.
