Is the housing market so hot that buyers are starting to sit it out?  Yup, buyer fatigue is definitely real.  The following paragraph from this article is almost exactly what we’ve been telling our clients for the past 6+ weeks:

We’re seeing our typical summer slowdown in Seattle, where things calm down before Labor Day hits. Demand is still a bit lower than we saw last year, but it’s important to note that in a competitive market like Seattle, multiple offers are to be expected on homes that are priced correctly. We just won’t see as many of those crazy 10 to 20-offer bidding wars as we did during the spring rush.”