I wouldn't say the U.S. housing market is quite to bubble territory yet, but with that said the demographic cliff that we're running up to will definitely be a factor. Currently the Baby Boomers generation is getting to retirement age, or the max saving time of their lives and there are too many homes for the younger generations to keep buying them up.

This is an article from about 2 years ago that talks about it
https://economyandmarkets.com/markets/housing-market-markets/next-housing-crisis-imminent/