The next few years at least. Supply is still really tight and there’s some pent up demand from younger buyers that would’ve already bought homes in the pre2008 market.

As you said, rates will play a role in determining demand but I don’t see taxes playing much of a role. A lot of the demand and lack of supply is at the mid level and entry level price points. I’m in charlotte (obviously one of the better markets) and its rare that a house priced at 250,000 or less stays on the market for more than a week. I believe I read that the supply of houses is less than 1/2 of what you would expect under such conditions.