I suspect what is happening is that the affordability crunch is causing a noticeable drop in demand in the HCOL areas (hence the pronounced decrease in prices in the Bay Area I noted in the original comment).
The availability of remote work and the retreat of the HCOL population to other areas in the US is likely causing an increase in demand elsewhere, as we have seen as a macro trend since the beginning of the pandemic. This demand will keep supplies low in LCOL areas.
The availability of remote work and the retreat of the HCOL population to other areas in the US is likely causing an increase in demand elsewhere, as we have seen as a macro trend since the beginning of the pandemic. This demand will keep supplies low in LCOL areas.