A look at past downturns

Guest perspective: Weak markets have lasted several years

The long boom in the real estate market attracted many people into the industry, with the National Association of Realtors’ ranks growing to more than 1 million members. Because the upcycle lasted for 10-15 years in many markets, hundreds of thousands of agents have not experienced a significant down market.

By looking at down markets in the late ’80s and early ’90s, we can make some observations on past real estate declines.