The Incompatibility of Rates and Housing Prices
Housing Prices - YOY change in the S&P CoreLogic Case-Shiller Home Prices. Inflation (driven by low rates and high demand + low inventory) = higher prices. 19.2% increase in house prices is getting frothy. *Great time to do a reverse mortgage - it's like selling a stock at the highs. Maybe a perilous time to overpay for housing - but life events drive these decisions as much as fear/greed.
Rates - Looking at the estimated rate increases - experts feel about 50% of these rates are prices into the market today. That means they don't feel they can really raise this much given the fragility of the markets.
Either way, these two are incompatible - if rates go up it will start to drive prices down (see other posts on this).