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.
More Quotes from David Lereah:
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.David Lereah
What we have here is still the soft-landing scenario we've been predicting over this year. I suspect the increase we have in this report is an aberration because of the weather.
David Lereah
Last year was the second lowest year on record since Freddie Mac started tracking mortgage interest rates in 1971, and that is one of the fundamental factors in the favorable market conditions that we expect to prevail for this year as well.
David Lereah
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.
David Lereah
Our in-house tracking of major brokers across the country shows sales activity making some recovery, ... which demonstrates that the underlying demand and fundamentals of the market remain strong.
David Lereah
The drop in pending home sales is an affirmation that we are experiencing a modest slowing in the housing sector.
David Lereah
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