I don't believe your analysis. The relationship has such a high correlation, you can just look at the the graph and probably eyeball estimate the regression within 10% error.

Banks and relators have such a massive conflict of interest in pretending that the inflated prices on housing are normal. Rising interest rates are causing housing sales volumes to plummet to record lows, and after over a year of pretending nothing was wrong, prices are finally starting to come down.

But the people invested in the housing market want to pretend it's anything other than the interest rate, like a child caught with their hand in the cookie jar and making up nonsensical explanations on why it happened.