On one hand I can report that interest rates fell recently to 4.28%. I can also report that home prices for 2013 jumped by 11% but have moderated so far in 2014. Existing home sales dropped significantly in January 2104. I guess you'd call that the the Polar Vortex effect.
What does this mean?
For Buyers it may be a good time to renew your home search. We are returning to a normal market and there will be a little more choice and a little less competition.
For Sellers there is still a good demand for well priced homes in good condition. Overall it's still a good time to sell.
Sounds like a fairly balanced market.