Moved here about two years ago (job relo) and saw how crazy the housing market is… Are we headed for a downturn?

Read this real estate market predictions for 2022 earlier and the case studies mentioned were spot on. It's been crazy! People have been buying trash properties and as someone who lived thru that, it was a very stressful experience. Really hoping the market evens out a bit. Agent and recent homebuyers here (we bought late 2020), how much of this is "noise" vs what we're actually seeing day-to-day?