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.
More Quotes from David Lereah:
Home sales are staying at very healthy levels. Housing inventory improved in August, but remain tight, and we have some way to go before we get into a range of balance between home buyers and sellers.David Lereah
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.
David Lereah
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.
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
In the wake of interest rates peaking in November, I expect we are in a bit of a trough that may be followed by a modest rise and then a general plateau in the level of sales activity.
David Lereah
You're going to be taking away from Middle America. Everyone, whether you use the mortgage interest deduction or not, the value goes down. You've just reduced the retirement nest egg for everyone.
David Lereah
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Based on Topics: Economics Quotes, Home QuotesA proverb is a short sentence based on long experience.
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