It's all eyes on the Federal Reserve for housing industry followers, analysts and participants as the waiting game on its fight against inflation should continue for at least another six months, according to managing partners Michael J. Romer and Pierre Debbas at Romer Debbas LLP.
The New York City-based firm, and one of the largest residential practices, forecasts that while transaction volume has plummeted, and the correction will lag, there's simply no sense of urgency.
"Buyers and sellers alike want to see how the market will shake out," the firm said, citing that "generally speaking, market cycles take six months."
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