Slowdown Approaching?

All the talk recently in the news and around the water cooler has been about the impending slow down in the real estate market. Surely, all of these years of record appreciation would have to come to an end. It only was a matter of time before the skyrocketing property values would come crashing back to Earth. The early signs are on the wall:

The number of homes sold is declining
The number of days the average home is on the market is growing
The number of realtors willing to bring their asking prices down to attract offers

The fact remains that a buying frenzy has allowed many sellers to name their prices especially in areas where there is no room for future development. Unfortunately, the demographics of new home buyers can not support the trend in prices. The rental industry should expect to see their rates go up as many families have been priced right out of the market.

Check out the statistics for home builders and re-sales of existing homes over the first two quarters of 2007 and the trend will become apparent.

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Based on information I have compiled from speaking to various professionals in residential real estate, I hope to provide the empirical data to support these predictions and eventually plot the landscape for future market changes.

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