Housing prices can be influenced by a lot of things but the big buckets you can throw most of them in are 1. Interest rates and 2. Supply and demand.
Interest rates are straight forward and pretty obvious. Although the Fed does not directly control real estate interest rates, they heavily influence them. I don't believe the Fed will raise interest rates significantly for at least 1-2 years, maybe more, for a large variety of reasons.
Supply is short and probably will remain that way. Almost all materials for housing is way up in price. Labor to build those houses are short, so they cost more. The super hot market could be a bubble in the eyes of developers, so it's scary to go balls deep in developments when everything is expensive to build and the bubble could theoretically pop before you could sell at a profit. Long story short, new houses aren't coming online near fast enough to satisfy the demand.
The wild card is how many people are delinquent on payments and how many will get foreclosed. Almost everyone has equity in their homes right now and I believe the demand is strong enough that any people at risk of foreclosure will be able to sell at a profit this not creating a big supply of empty houses like in 2008-2010.