Interest rates rising fast and new all time low inventory

Wasn’t the market supposed to crash when interest rates rose?

Rates are now at 4.5%.

People are paying $625/month more for a $500k mortgage than they were a year ago.

So why aren’t homes taking longer to sell? Why aren’t prices coming down?

More people need homes in America than at any point in our history.

Housing in America may never again be like we remember it 5 years ago. Folks will need to get used to spending a much higher portion of their income on housing.