The market temperature and its future.

[Frank Lienert]

In my market (Sacramento) and in a few outlying smaller markets, real estate has been pretty hot with prices climbing ever higher, approaching pre-crash levels. A few months ago I was noticing things cooling off a bit... lots of homes on the market, (upper mid and upper price ranges) reducing their prices. I even heard indications that the San Francisco area was showing the slightest signs of an ease up. Then came Brexit and rates going down and that brief trend seems to have stopped. 

As I've read repeatedly many are expecting a national cool down in real estate. My question to all of you, what's the temp of your local market? Have you noticed any minor trends like I mentioned above? Do you see a national RE cooldown/plateau/downturn on the horizon (next 12-24 months)? Given the domestic political climate and numerous international factors I can't see real estate not being affected in someway. Curious what you all think.