BrokerageIndustry News

Opportunity grows in slowing real estate market

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Big real estate companies may look to get bigger in 2006, while powerful demographic trends should buoy the real estate market despite softening, say executives at some major real estate brokerage companies. "I think we're going to have a good real estate market -- on the heels of a great real estate market," said Bob Moles, chairman of Intero Real Estate Services, a brokerage company based in Cupertino, Calif. Rising interest rates will affect the real estate market, he said, though baby boomers, immigration, women-run households and the second-home market should continue to drive the strength of real estate in the coming year. Demographic trends in California and the Western United States "will bode extremely well for real estate," he said. Even so, it will be hard to match the market's booming performance of the past several years, he said. "It's tough to always have a better year than the last year. We will anticipate a slight softening, primarily related to higher interest rates....