John Karevoll Cycle Quotations

In most markets, the boom phase of the real estate cycle is behind us. The market is reestablishing a balance between supply and demand, buyers and sellers.

The boom part of the cycle is over. Most of the gains this time around are behind us. Now the question is how much of those gains do we get to keep.

It's part of a broader trend. Nationwide there are markets that have a ways to go, especially in the Midwest. But we're much closer to the end of the cycle than the peak. Now we're watching how it plays out -- whether it's going to smash into a wall or just level off for a while.

The million-dollar cycle hasn't completely played itself out in the more affordable areas, which include the Inland Empire. There is more to happen there.