The market is fairly static right now only because the supply is also at long-time lows. No one is selling (1) because they can't afford to buy and get a new interest rate and (2) because houses are staying on the market for a long time.

My forecast: this market is a house of cards. As soon as the recession picks up steam and people start losing jobs/money they will have to sell some of their properties (especially Airbnb investors) and foreclosures with shoot up. As soon as supply increases, housing prices will start to fall (they have been falling, but very slowly), and it will trigger housing dumps as investors try to cash out quickly. The Fed will drop interest rates to try to stave off the sell-off, but it will be too little too late, 2008 all over again.