Predicting the Real Estate Market
Christopher Cagan, director of research and analytics at First American Real Estate Solutions, believes he can predict where home prices are headed based on past data. He’s identified four distinct types of housing markets, each of which is poised to react differently in the coming years.
Cagan states that “the residential real estate market stands at a pivotal position in the spring of 2006. Depending on the local area, prices are rising at single-digit levels, flattening out, or slightly declining — in other words, conditions have returned to normal after a very strong bull market.”
Las Vegas has been termed a catch-on market. This means that the market traditionally behaved in a linear fashion but recently experienced a strong move up or down in prices. To read more about a catch-on market and the significance it has on the future Las Vegas market, click here.
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