On the other hand, investment home sales are likely to decline this year, in part because of higher interest rates. There are fewer incentives to speculate in the market with price appreciation cooling in much of the country.
More Quotes from David Lereah:
I don't think we are going to see a drop in home sales in other parts of the country. I don't think economic jitters are going to hurt home sales,David Lereah
This means a modest slowing can be expected in the sales pace in the months ahead, although the market will hold at historically strong levels.
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
Looking forward the outlook for housing is mixed. I do expect some slowing of home sales and price appreciation going forward.
David Lereah
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.
David Lereah
We simply don't have enough homes on the market to meet demand. We think the supply situation may improve next year when interest rates are expected to be higher that should result in a lessening of demand and cooler price appreciation.
David Lereah
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