From Peak Frenzy to Market Reset: A New Phase Emerges

Mike Harrison discusses real estate cycles, noting that markets typically move in five-year patterns from peak to trough to recovery. He believes we are now entering a recovery phase, pointing to positive trends in both single-family and multifamily properties compared to recent years. Using his own 2021 sale as an example—when he received over 20 offers on a property and sold above asking—he illustrates the intensity of that peak market. He contrasts that with today’s environment, marked by oversupply and fewer active buyers, highlighting the changing dynamics of opportunity.