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.
Quotes about existing-home (7 Quotes)
We knew the September pace for existing-home sales was going to be a big number, but after setting records in July and August we thought the pace might start to slow, ... This underscores the powerful fundamentals that are driving the housing market -- household growth, low interest rates and an improving economy.
With 30-year fixed mortgage interest rates a little under 7.0 percent, and expected to stay near this level for the balance of the year, we project existing-home sales to nearly match last year's performance.
After setting a new record for existing-home sales in August, our internal tracking shows a downturn following the attack on America, and there will be some natural pullback from big-ticket purchases in the months ahead given uncertainty over the future.
Mortgage interest rates have been on a steady slide since April and reached new historic lows in September, contributing significantly to higher existing-home sales.
We now think this will be the second-best year ever for existing-home sales, ... given the more favorable interest rate climate and continued strong demand.
Real new home sale prices and existing-home sale prices have been rising very sharply. When that starts to give way and we don't have the equity market picking up where housing left off, that's another reason the economic expansion will be gradual.