The US housing shortage will get worse in 2023 as the number of homes declines in the Spring and lower mortgage rates cause home buyers to come back into the market. The real estate market set record home prices in 2022 but higher interest rates caused sales to decline. Despite this, there are still not enough available homes for purchase compared to a normal year.
There is little evidence that the real estate market will crash given that there aren’t enough homes available to satisfy current housing demand. The housing bubble never happened as predicted.