Real estate prices will keep going up amid the interplay of demand and supply: Economist

Housing prices continue to rise under the higher-for-longer inflationary environment, according to a Redfin (RDFN) report. First American Chief Economist Mark Fleming joins Wealth! to discuss the implications of these trends for the housing market.
Fleming explains that the rise in mortgage rates "has a demand-side effect," making homes less affordable for potential buyers. He notes that the impact is now also being felt on the supply side, as homeowners have become less willing to sell their properties due to the increased costs associated with housing transactions.
Looking ahead, Fleming believes that life changes will start to become "the driving factor for people moving," rather than rates, if it remains elevated.
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[giniaa]

Lower mortgage rates increase demand, which increases selling price. So, lower rates will only make things more competitive and expensive.

[williammacadam]

I stil do understand how people can afford 4000-5000 mortgages

[nickvin]

No, they wont in most areas. Prices have peaked.