Industry News

Local real estate markets see cold front

One-third of survey participants say market is cooling; additional third say sales still hot
Published on Jul 6, 2004

Local housing markets are split on "hot" and "cool" readings, according to an informal Inman News survey. About 33 percent of survey participants said their market is hot, while another 33 percent said their market is cooling. Another 26 percent of respondents said the market is not cooling yet, but will soon. The remaining 8 percent didn't specify the condition of their local market. Gayle Causey, a Realtor for Century 21 Shackelford French in West Monroe, La., said the housing market is still good but it has begun to cool. "The local economy is to blame," she said, especially with a recent announcement about the loss of a large employer that will cost about 1,500 jobs. Another respondent said Southern Orange County "is at the top of the price rise and starting with this summer season prices will remain the same or even start to drop slowly." But a survey-taker in the San Francisco Bay Area said, "We have far more buyers than sellers – a true seller's market. We have some 350 ...

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