David Lereah Quotes Great-quotes.com
David Lereah Quotes
Housing will still contribute to the overall economy in a positive way and will help consumer spending.
In 2007, you'll have positive home-sales growth and you'll have positive price appreciation.
Although home sales have eased, the tremendous momentum in price appreciation was sustained in the fourth quarter because tight inventories still favored sellers.
The drop in pending home sales is an affirmation that we are experiencing a modest slowing in the housing sector.
Clearly, mortgage interest rates that are near 30-year lows are bringing many buyers into the market at the beginning of the traditional home-buying season, ... and we're counting on the Federal Reserve to continue its accommodative interest rate policy to keep housing strong.
The present level of home sales activity is considerably above last year's record, and the new benchmark we'll set in 2004 is a significant contributor to overall U.S. economic growth.
The housing sector has likely passed its peak ... and the boom is winding down to an expansion, ... Many of our hot housing markets are transitioning from a sellers' market to a buyers' market.
Vacation-home buyers are making lifestyle choices and purchasing primarily for their own enjoyment. Investment-home buyers are seeking rental income and portfolio diversification, although vacation-home buyers also mentioned diversification.
Looking forward the outlook for housing is mixed. I do expect some slowing of home sales and price appreciation going forward.
The housing sector has likely passed its peak. The boom is winding down. I expect continued softening in housing if rates remain at these levels or go higher.
There is no sign of a downturn, ... Home sales will continue at historically high levels, and 2005 is expected to be the second-best year on record for the housing market.
The boom is winding down to an expansion,
The housing sector has likely passed its peak . . . and the boom is winding down to an expansion.
The (housing) boom is obviously winding down. But it's important to note that it's winding down, but still to healthy levels of activity.
The boom has peaked and it's starting to come down.
This is not a scenario for a hard landing.
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.
It's difficult to follow the strongest year ever. The boom is obviously winding down, that's what we're all saying ... but to still healthy levels.
It's now clear that unusually mild weather in January and February contributed to exceptional home sales, in effect borrowing from sales that normally would have occurred in late spring. Even so, we still expect to set a new annual record this year.
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.
The reason interest rates are higher is that we are in a growing economy.
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.
Although interest rates are rising modestly, an improving job market is creating a favorable backdrop for home sales, but at a somewhat slower pace in the months ahead.
We may see some minor slowing in home sales as interest rates rise, but the market clearly is stabilizing.
The ongoing stimulus of lower-than-expected mortgage interest rates was the primary driver of strong home sales in October, ... Of course all of the other market fundamentals remain sound, so we should only see a modest decline from record home sales this year if mortgage interest rates gradually rise.
Part of what we're seeing now is 'fence-jumping' from people wanting to buy a home before interest rates move higher. Even with an additional rise in recent weeks, the good news is that mortgage interest rates now appear to be leveling out in the 6.3 percent range.
Home sales are coming down from the mountain peak. But they will level out at a high plateau.
Changes in the overall direction of the housing market are akin to a large ship making course corrections - it takes some time for the driving factors to materialize as a change in the sales level. In many recent transactions we're looking at a delayed effect of mortgage interest rates that peaked in November but are now lower than expected. Mortgage applications have trended up in recent weeks, so we shouldn't be surprised to see pending home sales rise in the next couple months.
Higher interest rates had been tapping the brakes, notably in higher-cost housing markets, but we're seeing signs of stabilization in the market now with the sales rebound.