In the wake of interest rates peaking in November, I expect we are in a bit of a trough that may be followed by a modest rise and then a general plateau in the level of sales activity.
More Quotes from David Lereah:
These historically high home-price gains are the simple result of more buyers than sellers in the market. The good news is that the supply of homes on the market has been trending up and we are entering a period of a more normal balance in supply and demand.David Lereah
I truly believe the housing market will continue to expand. But rather than the double-digit price appreciation we've seen, we might see that drop to a 5 or 6 percent appreciation sometime toward the end of next year.
David Lereah
Mortgage interest rates were at the highest level since the third quarter of 2003. At the same time, we've seen strong double-digit appreciation in home prices, so a modest slowing from record sales was to be expected. The good news is that home sales are being sustained at historically high levels.
David Lereah
It's a nice rebound, but we have to discount some of this because of the warm weather in January, particularly in the Northeast. We may give a little of this back in the next month or two.
David Lereah
Given the demands of a growing population, and with real estate becoming the safe haven for investment, many factors are in place for a continuation of strong home sales.
David Lereah
We've had favorable housing affordability conditions for some time, but what's new is the effect of a gradual increase in consumer confidence, combined with a turnaround in the economy, ... As a result, some people who've held back from major commitments over the last few months have entered the housing market.
David Lereah
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Based on Topics: Sales QuotesMuch wisdom often goes with fewest words.
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