The observation of a rebound in home prices can be attributed to the limited availability of housing inventory in the current housing cycle.
When there is a lack of inventory in the housing market, meaning there are fewer homes available for sale compared to the demand from buyers, it can lead to increased competition among buyers. This competition often drives up home prices.
It's worth noting that local housing markets can vary significantly, and while some areas may be experiencing a rebound, others may still be facing challenges. Factors such as regional economic conditions, population growth, job markets, and local housing policies can influence the dynamics of individual markets.