Why do people start buying houses again?

The real estate market in the past month has been weird. On the 20th of last month, CNBC reported,” As mortgage rates hit 8%, home ‘affordability is incredibly difficult. "
However, in less than a month, people have started to buy houses again.
And houses sold so quickly that we didn't even get a chance to join the bidding sometimes.
With such high rates, are these homebuyers out of their minds?
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