With any purchase, people want to know if they’re getting a good deal. But when it comes to buying a home in today’s market, it’s hard to answer that question.

Americans are laser-focused on the state of the housing market as the country enters the peak spring home-buying season. Data on search trends from Google
GOOGL,
+1.31%

shows that people are researching whether now is a good time to buy or sell a home.

Some of those people may be looking to make up for lost time. Around this time last year, real-estate transactions slowed considerably as COVID-19 restrictions on businesses meant that home sales couldn’t proceed in many states. But home-buying came back with a vengeance, as the typical spring deluge of home sales bled into summer — and fall and winter.

In truth, since that initial slowdown at the start of the pandemic, activity hasn’t slowed a whole lot in the…

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