Key signs of a cooling market
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In this overheated real estate market, people often want to know when the trend will slow down or reverse itself.
The answer comes with the following events: When the same properties are advertised week after week in the newspaper. When new listings pop up on every other block. When “Reduced Price” signs appear on older listings. When interest rates move up to 7% or more. When the total number of sales in the Valley per month falls below 1,000.
This scenario last occurred in April 1990 and led to a seven-year decline in real estate values.
Sol Taylor
Sherman Oaks
Taylor is a real estate agent.
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