Industry News

Housing market to chill without a pop

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It might be a refreshing breeze, it might be a slight chill, but though it's a slowdown, it's definitely not a bubble bursting, said industry experts during an audio conference Thursday on the current real estate market shift. "I see a slowdown in prices but not a crash," said Mike Sklarz, head of analytics for Fidelity National Financial, during an Inman News audio conference, " Market shifts: Slight Breeze or Tsunami?" Sklarz said markets can correct in two ways – steep price drops, "as we have seen in the stock market; or, as we see in real estate, correction over time." The analytics head said he has constructed a 100-year analysis of the Los Angeles real estate market, suggesting that prices there might remain stable for a five- or six-year period going forward, as one example. Sounding a similar note, Christopher Cagan, director of research and analytics for First American Real Estate Solutions, said, "You can sell stocks in a minute; it takes months to years for real esta...