Real Estate Markets Cooling Across The Country, And It's Not Just The Winter Effect: In December 2008, almost a decade ago exactly, Case-Shiller posted a record 18% price drop in home values across the country as the subprime mortgage crisis reached fever pitch.
After a slow and painful recession period, economic prosperity pushed the market out of recovery mode and into a full-fledged real estate boom characterized by double-digit price growth, rock-bottom inventory and surging buyer demand over the past few years. It's been the lowest of lows, followed by a glorified golden age for the country's trillion-dollar residential real estate business.
In the wake of these tales of two extremes, it’s hard to remember what a more neutral market even looks like. But a new normal, one that’s neither ice cold nor fiery red, does appear to be taking shape.