According to Fannie Mae: A recession is likely in 2023, but the hot housing market should cushion the blow. Demand for new homes will likely continue to outpace supply in the near future, which will be a driving factor in keeping prices and economic activity high through to 2023. 

Home prices are expected to keep rising for the foreseeable future, albeit at a slower rate than they have in the recent past due to the higher mortgage rates.