Not only have mortgage interest rates declined, but an expected rise in the second half of the year will be slower than in earlier projections. As a result, we now expect to set records for both existing- and new-home sales this year.
More Quotes from David Lereah:
We were truly at a break-neck pace for home sales in January and February, likely the result of unseasonably mild weather, so it comes as no surprise to see sales decline to a more sustainable pace,David Lereah
You want to make sure homes are affordable when they start to increase at lofty rates, you start to worry about affordability, ... But certainly, right now, the fundamentals are so good in housing that if we have a drop-off in price gains, it's still going to be at healthy levels.
David Lereah
The underlying fundamentals of the housing market are solid and sales will stay historically strong, but they will trend modestly down from current peaks. Masked by the data are early signs that housing is starting to wind down from a boom and will transition into an expansion - in other words, a soft landing.
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
In the last two years housing has been the beneficiary of a weak economy.
David Lereah
The (Pending Home Sales) index has been fluctuating in a fairly narrow range over the last six months -- a very high range -- so the overall market is moving forward with a lot of momentum.
David Lereah
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