Stevens on Today Show: Cooling No Cause for Alarm

NATIONAL ASSOCIATION OF REALTORS® President Thomas M. Stevens appeared on NBC's "Today" show this morning, dispelling fears of a housing market crash.
REALTOR® Magazine Online
In a segment titled "Real Estate Market May Be Cooling Off," Stevens said although there has been a lot of talk about a hard landing in real estate, he isn't worried. Interest rates are still low, and homes are selling for 12 percent more than they did a year ago in January.

But Stevens acknowledged that sellers need to recognize the reality of the market. More inventory means they may not be able to count on the giant gains of the past few years.

"Just because the neighbor might have sold their home two months ago and realized a 40 percent gain in a period of a year or two years, I think they have to evaluate what they need to do to get that home sold based on the competition in the marketplace," Stevens said.

To see the full transcript of the interview, along with a video clip, go to REALTOR.org.