Not yet. There's plenty of cash to buy the condos, those people will trade up to townhouses, the townhouse people will buy houses. All segements will continue to shoot up particularly with the new work-from-home paradigm.
Furthermore, interest rates will continue to be manipulated. They might raise short term rates to reduce money sloshing around but will continue to manipulate the long rates to keep them historically low. Eventually the market will push up the long term rates because of expected long term inflation, but we're a long way from that.
When I bought my first home in 1990, the interest rate was 10%. Rates like that would price most out of the market.