Eugene Tong Delores Conway, director of the Casden Real Estate Economics Forecast at University of Southern California\'s Lusk Center for Real Estate, sees two forces working to stabilize prices for a so-called \"soft landing.\" Rising interest rates and high prices may mean fewer buyers in the market, but housing demand in Southern California remains strong. Conway added that she does not expect a run on the market despite more inventory, with sellers holding back because they can\'t afford to upgrade to larger homes. \"We\'re seeing continued price increase year over year,\" she said. \"But we\'re seeing huge volume declines - that in part is kind of holding up the market. A lot of people who want to put their home on the market saw the market and held off.\"
May 18, 2006