We are entering a period of a more normal balance in supply and demand. The modest dip in appreciation is an early sign of a market adjustment.
More Quotes from David Lereah:
This is a great time to lock in.David Lereah
In examining the hottest markets for home-price appreciation, we see a rolling boom moving from one metro area to another over time, as well as a spillover effect into nearby areas with lower home prices, ... That is spreading the wealth of housing returns, with a natural ease of appreciation in areas following a period of extraordinary price growth.
David Lereah
In 2007, you'll have positive home-sales growth and you'll have positive price appreciation.
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
Although we've been expecting sales to ease, it's clear the market has tremendous momentum, ... The improving job market and higher consumer confidence are feeding into a large demographic demand for housing.
David Lereah
With more buyers than sellers nationally, what we're seeing is a natural pressure on home prices as buyers compete to bid on available properties. Fortunately, the historically low cost of debt service on a home purchase means that we have a comfortable buffer in most of the country because the typical family can afford to buy a home well above the median price.
David Lereah
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