Note: Inman Market Intel is now available for preview at special introductory pricing. Learn more about Inman Market Intel here. At Inman Connect New York, Brad Inman said that he was thinking about buying another house. I wanted to stand up and say, "Don't do it -- the next downturn is on the way!" There are multiple signs the next downturn is around the corner, but what if you could predict whether a specific property in a given market area would increase or decrease in price during the next year? Ever since we listed our house in September and lowered our listing price just two weeks into the listing, my gut has been telling me the next slump is coming. Our decision to lower our price paid off. Out of 47 listings in our price range and location during November and December, there were only two sales, and ours was one of them. My sense is that we are in 2006 all over again. Prices might still be increasing, but they have already flattened in many area...
- There are multiple signs the next housing market downturn is around the corner.
- Inman Market Intel, powered by Weiss Analytics, is the first tool that provides pricing data for 50 million individual properties in 38 different states.
- What's really exciting about this tool is that it also predicts how prices will change during the next year not only in major metros and ZIP codes but also for individual properties.