It can, but it's more downward pressure on higher cost homes (eg coastal metros). Even with higher rates, average home prices can increase like in the 60s throu

It can, but it's more downward pressure on higher cost homes (eg coastal metros). Even with higher rates, average home prices can increase like in the 60s through 80s, albeit just to keep up with inflation from higher interest rates. https://fred.stlouisfed.org/series/MSPUS https://fred.stlouisfed.org/series/MSPUS https://fred.stlouisfed.org/series/FEDFUNDS https://fred.stlouisfed.org/series/FEDFUNDS