At least people need houses to live in. You can't live in or eat an NFT.
There definitely needs to be a housing correction, but demand is still higher than supply, but that's mostly due to people not selling in this market. I mean, why would you move and nearly double your mortgage interest rate? Unless you're paying cash, moving doesn't make a lot of sense right now. As long as there are few sellers on the market, prices aren't going down much.