Mortgage costs. Most people now have super low mortgage rates, and could not afford to switch to a comparable home, because sticker prices have barely budged.

Mortgage costs. Most people now have super low mortgage rates, and could not afford to switch to a comparable home, because sticker prices have barely budged. This leads to a very tiny inventory of homes. However, part do the reason that prices are staying high is that we are still under supplied on homes, and interest rates being high also means that construction starts will be way down, keeping those sticker prices higher for longer.