I wouldn't say the waive inspection/sells on Day 1/no appraisal stuff has completely gone away. In the last few weeks I've had clients compete on an $850,000 City listing, they waived appraisal - although not inspection - and offered a not-insignificant-amount over list, and did not get it. The seller started showings on Friday, evaluated offers on Saturday, and made a decision by Saturday night. There were at least several other offers and the agent told me someone was trying to fly in from California to see it in time to write. So houses that are completely "done," in premiere locations are still commanding multiple offers with waiving all contingencies.

The good news for buyers: If you are willing to buy something that's not perfect, might need a bit of TLC, the buyer definitely has more bargaining power. But it's not 100% a buyers market by any means. The average Days on Market ("DOM") in the Central Virginia MLS has gone from 6 DOM in July 2022 to 8 DOM in September 2022.