Conor Sen claims

Resale housing inventory has climbed toward or above pre-pandemic levels in most of the South and West. Even in the supply-constrained Northeast and Midwest, there are signs of inventory growth. By 2027 — the year in which the oldest members of Gen Z start turning 30 — the US will probably have more existing homes for sale than it’s had in a decade.

This normalization is putting gradual but persistent pressure on prices. At a metro level, price growth is either decelerating or prices are outright falling just about everywhere. A surge in delistings heading into year-end indicates that market dynamics are weaker than advertised home prices suggest. The S&P Cotality Case-Shiller US National Home Price Index rose just 1.3% in September from a year ago, well below the 3.7% growth in the average hourly earnings of American workers.

Here is more from Bloomberg.  Conor has further analysis and suggests the 2030s will be quite a good house-buying time for Generation Z.