Seasons, stages, phases and cycles. In biology, astronomy, time and many other aspects of life, things repeat. Real estate is no exception. Market analysts have shown that real estate markets pass through recurring cycles.
In 1933, Homer Hoyt revealed how real estate passes through stages in his book “100 Years of Land Values in Chicago.” A person can still purchase used copies of the book at Amazon.com. In his research, Hoyt discovered that real estate goes through cycles of approximately 18-year intervals.
