OpinionIndustry News

‘Normal’ real estate market not bad news

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Many savvy real estate executives around the country aren't dismayed by the prospect of a slower housing market this year after the unprecedented housing boom of recent memory. In fact, many of these executives are even eagerly looking forward to quieter times that will allow them to regroup, rebalance and, at long last, perhaps even relax. This positive outlook is a reasonable response to a "normalized" market that is characterized not by rapidly rising house prices, dozens of offers for every for-sale house and a frenetic pace of doing business, but rather by modest home price appreciation from year to year, negotiation between buyers and sellers and a manageable pace of business. Yet sadly, a lot of the good news about today's housing markets has been buried in negativity about the outlook for the future as compared with the past. Here are some positive points to ponder: Interest rates on 30-year fixed-rate mortgages appear to have stabilized for the time being in the 6 percent ran...