The average home price is slowly beginning to soften due to buyer uncertainty, according to an interview on Cavuto: Coast to Coast Thursday by Yale economist Robert Shiller. ROBERT SHILLER: Florida is a volatile state. It's beautiful. They are the most famous early home price bubble in Florida in the 1920s. I think we are living in an uncertain time. There is a chance that there will be a reluctance to buy in the near future. It would bring prices down.
NEIL CAVUTO: But would those prices crash?
ROBERT SHILLER: I don't like the word crash. It took six years to reach the bottom after the peak in 2005. The real housing prices were corrected for the CPI. The peak was in December 2005, not 2007 2008, as we think. It took six years. It wasn't until 2012 that home prices started going up again. These things are very slow, and it's not like the stock market.