NAR's Economist: Winding Down to an Expansion

As inventory builds in many parts of the country, and rates may continue upward in the next few months, the National Association of Realtors indicates that the housing sector may have reached its peak. Elsewhere, it's predicted that nationally, 4%-5% may be the new annual appreciation rate, especially in California where the percentage of buyers has declined to 14%. Nationally, sales were down in October in the West by 1.2%, which was a smaller decline than all other areas of the country. Weather and time of year are also typical factors which keep buyers out of the market temporarily. But does it mean the "bubble is bursting"? Stay tuned.