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.
More Quotes from 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
Some of the cooling is coming from non-boom markets such as Detroit, where there are job problems. I do worry about those markets if the economy continues to slow, though we do expect the economy to pick up in the first quarter.
David Lereah
If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years,
David Lereah
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.
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 good news is that inventory levels are improving and housing supply will come closer to buyer demand in 2006. We expect a healthy and more balanced market next year.
David Lereah
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