[whatshisface]

Imagine you were selling a house. The absolute upper limit on the delay would be how long it takes for you to come down on the price if there are no buyers (a month at most). If there were other sellers who may have already waited for a while, the delay will be even shorter. Houses are less liquid than stocks so the delay is relevant to some people, but it's much faster than the timescale over which housing shortages play out.

[cpwright]

Or you own the house, but have external factors like your mortgage; or psychological factors like "I don't want to lose money on it." In which case you will pull the house from the market, rather than correcting the price. Or alternatively, not list it in the first place unless you are distressed. Any of these outcomes reduce supply and would cause prices to be stickier.