Markets & Economy

Beware, warns Gary Keller, foreshadowing ‘shift’ in housing market

Keller Williams co-founder is not bullish on the housing market

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Gary Keller Keller Williams co-founder Gary Keller -- who owns the largest real estate company in the world, according to its agent count -- is very bullish about his company. But he's not as bullish about economic and housing market conditions. In a speech before thousands of KW leaders on Thursday, he painted a less-than-optimistic picture of where the housing market stands and how it might lead to a “shift.” He points to five indicators of a downturn of some sort. Days on the market are up, the supply of move-up and higher end housing is now growing, home prices are going down in some markets, unit sales are slowing and construction is flat. "Only four times in U.S. history have home sales been higher, it’s a sign of a shift," said Keller. Plus, the "median home price is higher that it has ever been in the history of recorded time -- last time we were here we were on the verge of a recession," he said. "It wouldn’t take much right now to push us into a b...