This supply/demand imbalance put huge upward price pressure on houses. And they increased nearly 25% in some places ,in 4 years.
When houses increase this much and interest rates have also increased, more and more people are priced out of the market and more and more people decide to sell and realize their huge gains.
So in time supply increases and demand drops. This then puts downward price pressure on houses.
the huge increase was too much and not sustainable. 2/3
