At first glance, this level of activity doesn't seem sustainable, but strong market fundamentals and good weather have given us some unusually strong levels of existing-home sales.
More Quotes from David Lereah:
We were truly at a break-neck pace for home sales in January and February, likely the result of unseasonably mild weather, so it comes as no surprise to see sales decline to a more sustainable pace,David Lereah
The baby boom generation is driving second home sales -- they're at the peak of their earnings, interest rates remain historically low and boomers want to diversify investments.
David Lereah
The (Pending Home Sales) index has been fluctuating in a fairly narrow range over the last six months -- a very high range -- so the overall market is moving forward with a lot of momentum.
David Lereah
Not only have mortgage interest rates declined, but an expected rise in the second half of the year will be slower than in earlier projections. As a result, we now expect to set records for both existing- and new-home sales this year.
David Lereah
In the last two years housing has been the beneficiary of a weak economy.
David Lereah
As for California, appreciation there is still healthy, ... Realtors there say that there is still very little supply of homes for sale.
David Lereah
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