After an amazing multiyear run of record-breaking sales figures and home-price growth, the nation’s housing markets in the last few months began to show signs of change. Interest rates on long-term mortgages have steadily increased and many markets have reported significant increases in home inventory levels, causing a shift from a seller’s market to a buyer’s market.
Inman News caught up with Larry Knapp, president of Northern California-based Alain Pinel Realtors, to get his take on what’s happening in the company’s markets, as well as what he’s predicting for 2006 and how sales agents can prepare.
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