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Sam Zell’s Telltale Sign of Real Estate’s Peak

According to Sam Zell, the real estate market could be reaching its turning point. The founder of data firm NeighborhoodX, Constantine Valhouli, learned from Zell that the membership numbers of the National Association of Realtors (NAR) can help signal the best times to buy and sell real estate.

When NAR numbers spike, it’s an effect of people thinking that there’s easy money to made, so the influx of realtors and agents increases rapidly. At the same time, it shows the market is overheating on its surface; therefore, it has prompted Zell, one of real estate’s most successful owners, to sell.

In February 2007, as chairman of Equity Residential, he sold his $23 billion portfolio to Blackstone Group, as NAR membership was falling. Based on Zell’s recent dispositions last fall, Valhouli predicts, “…[the market] is about to hit the fan.”

For comments, questions or concerns, please contact Daniella Soloway

Image Source: Brian Vanderbrug, Tribune Newspapers

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