Last time the bubble busted getting us all wet!

I've sort of stopped trying to predict the future.  Everything changes so quickly!

in the DC metro area we are essentially in a balanced market.

More building

Our prices are still rising, single family homes inventory is low but we have thousands of  new condo units hitting the market now.

Jeff,

It really depends on the particular marketplace.  Some areas in Santa Barbara County have high inventory and a low demand, and vice versa.  To generalize even in our small town is wrong, because it depends on so many factors.

Some areas depend on the economy of China for instance, which as you know is not so golden at the moment...A

Our prices have gone up very modestly and inventory has remained at 7 months plus for the last couple of years. I do not foresee a change from this and we consider this to be a stable market.

Continued tght inventory, frustrated buyers and possibly small declines in sales because buyers can't find what they want in their budgets.

Welcome to 2005!? 

We have this in our area.  I see it continuing for a while.

This is a high demand  area and our inventory is low so I'm feeling very positive.

We have a strong real estate market in our area. Many apartments are being build for those who are not buying homes.

Continued high demand, increasing prices and low inventory.

We see more builders coming into our area and creating more inventory. There is a pent up demand for properties under $1M, because we have so many that are over that threshold.

I expect the market to remain stable.

Good morning Jeff. In the local areas where my office is, there is plenty of inventory, but in couple of the states that I do business that I do mortgages, that is not the case.

 more of the same. High demand low inventory

The median price for an apartment in Manhattan reached $1.1M in 4Q-2015. It's highest level ever recorded. Inventory is up 14% (finally) from a year ago but still undersupplied.

Bidding wars, high prices, higher and higher, buyers frustrated but with more and more iventory coming perhaps a correction is due. Maybe another crash. Sooner or later. It's already slowing at the $10M+ ultra luxury sector of the market. Not enough billionaires for all the new luxury construction. Builders may start cutting up 7,000 sf apartments that are not selling for $50M into several smaller units.

(I hope what I just heard on the news about the China stock market crashing and closing down won't be too bad here tomorrow) Who knows? Maybe it will help US real estate as safe haven for Chinese investors.

But then the cycle begins again and prices start going up then go even higher than the last cycle.

10 years from now people maybe saying "I'm sorry I didn't buy that 1 bedroom condo when it was only $1.1 million back in 2015. :-)

I'll have to get back to you IF that ever happens.

Our prices have gone up slightly and in some cases we are starting to experience multiple offers. 

Coastal San Diego limited land for sale, healthy demand for sunshine, and limited inventory.

We have a lot of empty foreclosed homes, that have not yet come back on the market.  We're anxiously waiting.

In my area, I think the market will continue to slowly rise.  Inventory has tightened, and depending on weather, spring sales should take off in March.

 In High End Coastal Orange County we have not hit 2007 prices yet. Sellers list high and take off market. Condos and entry level are 90% of 2007 market prices in South Orange County and 95% in North Orange County. Properties under $590000. sell with multiple offers. (My company owned by a builder so no comment about the brand BUT...) Builders in Orange County are slapping up $800000- $1,200,000 houses like there is no tomorrow. They are all hunting for infill lots to build new. Buyers are out on weekends and getting preapproved in record numbers. What will make them put their money down and close?? - new president? Janet Yellen saying the sky is falling or just time to move up?

None of the above. We still have low inventory but our DOM is 90. I'm outside of Chicago.

Slow & steady is how I describe Western PA.

Jeff,
We have very limited legal pot so we will stay positive but reasonable.

The Tampa Bay area has the exceptional benefit of a lot of out of area, out of state, out of country buyers. Most of the big water view real estate is owned by citizens of other countries.

I expect to see a slow Spring, reduced closings, then they will pull the trigger for an exceptional 3 and 4th quarter. Then the expected babble from the media and gurus.

Unfortunately, I think we will see at least another year of the same.

We work with the ebbs and the flows.

Prices are going up no matter what happens to interest rates.  population is growing faster than housing availability.

Jeff - The market always fluctuates, and if it gets too extreme in one way, it usually starts working its way back the opposite direction. Sometimes it is a slow transition, and other times, like back in 2006-07, the bubble burst.

First:  It varies by location and price range within that area.

It is still a seller's market in most of the areas I cover but not as extreme.  

We are starting to see price reductions and more inventory is some areas.

And we are still seeing multiple offers and sale prices over list.  

Denver has enjoyed a vibrant market for a couple years now, and has already started with a bang. 

more listings linger on the market and then prices fall, if the seller wants to move....

In our area real estate will remain strong because the job market is strong.

It will all depend how much the FED wants to mess with the economy, a coupe of quick increases in the rate can put the brakes on fast