December saw a seasonal dip in activity in the market, which is typical for this time of year. The period just before the Thanksgiving holiday through the end of the year usually sees the lowest level of listings and offer acceptance; it would be premature to make definitive conclusions about market trends from the most recent numbers.
The early spring market, which typically sees an uptick in activity, will provide a more realistic indicator of where the market is heading. Things are definitely in a period of adjustment, and, in between now and the spring, it is likely macroeconomic conditions will continue to fluctuate.