Another Real Estate Bubble?

Based on the Real Estate Inventory seems like we may get another bubble since everything that is out there for sale is now really expensive.  What will happen when Interest Rates start going up? I believe interest rates will be higher starting next year, especially after these elections.  I hope to see infrastructure investing continue to grow and even double from previous years.

I know this link shows from Realtor.com May data but the trend has continued to move in the same direction.  Check it out and let me know what you think.

http://www.realtor.com/data-portal/realestatestatistics/