Housing market as volatile as the stock market?
According to CNBC, the housing market is just as volatile as the stock market. The news agency explained why Tuesday:
"We've seen more volatility in real estate in the past five years than we have in the past 500," said Glenn Kelman, CEO of Redfin.
"We definitely see the investor market cooling early in the season," noted Kelman. "You had Wall Street at some point becoming frustrated because you just couldn't buy in bulk the kinds of inventory they'd been able to get in 2012, 2011, and so those investors started to pull back."