Expert: Housing market slows, but no need to panic

09/17/2013 | Fox Business

The housing market is slowing, and sales will probably be flat through the rest of the year, but the situation doesn't call for panic, because "the demand-supply and affordability fundamentals are still intact," said John Burns, chief executive of John Burns Real Estate Consulting. The slowdown comes as interest rates rise, sellers set asking prices too high in some markets and investors scale back buying as prices rise. Two emerging trends are the resurgence of flippers and the strength of the second-home market, Burns said.

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