Mark and Jeff look back over the past decade to understand how the housing market reached today's unusual crossroads. Starting from the pre-pandemic landscape, they trace the rapid changes that followed — home prices soaring more than 50% since 2020 and the Dow climbing over 100% in just six years, all while housing transaction volumes have fallen to historic lows. Despite the sluggish sales environment, there are growing signs the market could be nearing the recovery that NAR Chief Economist Lawrence Yun has predicted. However, uncertainty remains, including how geopolitical tensions in the Middle East could influence inflation and ultimately the path of interest rates.