What caused the major correction last time was when Home Depot and Lowes told their supplies on Memorial Day to stop shipping product. That they had too much inventory.
The other factor was that lumber got so high that it was being talked about regularly on Fox Business, The Wall Street Journal and other equities publications. Typically, in the past whenever lumber is mentioned/noticed by the major news outlets it is the kiss of death to the market.
I am looking at the market based on technicalities. Unless there is hyperinflation there is no way the current prices are going to be sustainable. You can use cement to build houses.