Downsizing buyers with a high equity position in the family home are often able to pay cash for their next home eliminating any concerns over high mortgage rates. Both buying and selling in the same market washes out market fluctuation concerns. You are buying and selling in the same up or down market. Downsize buyers often have excess cash from their sale so they can offer above list price for the next home if needed. Since a cash purchase does not require an appraisal, the above list price then sets a new benchmark for subsequent sales in the subdivision.