Industry News

The changing real estate industry

What the subdued mood in Orlando tells us about the industry

ORLANDO, Fla.–After receiving the National Homeownership Award from RIS Media last week, Home Services CEO Ron Peltier made a post-election crack about "four more years." He quipped that he was looking forward to a re-run of the last 48 months. It was not only an election illusion as much as a reference to four more years of a booming real estate market. Surprisingly, record housing market conditions did not create a mood of visible giddiness at the National Association of Realtors show in Orlando this past week like it did at the NAR confab in San Francisco last year. The mood was more hesitant and more subdued. The industry's disposition is not merely a hangover from the elation or the disappointment about the election outcome. Real estate is on the cusp of deep change that began years ago, but whose consequences are just being felt today – forcing the industry to become sober, more contemplative and more serious about what is next. The changes are weighty, even if som...