We had unusually bad weather in many parts of the country in December, and the conditions in January were extraordinarily warm.
More Quotes from David Seiders:
We can't hold at the pace we had last year. It's not going to be the end of the world -- it's going to be a simmering down to a very healthy pace.David Seiders
It is a time-tested pattern. February has essentially returned to normal conditions, suggesting to me that we will see a substantial decline in housing starts.
David Seiders
There is now accumulating evidence that the housing market peaked somewhere in the third quarter. Our survey of builder confidence, which came out yesterday, was down a lot. . . . It was the biggest drop since the first survey after 911.
David Seiders
Winter weather really takes the sting out of these declines.
David Seiders
The key reason the market is losing momentum is a major decline in housing affordability measures as prices continue to move up aggressively in many, many markets around the country. There are reasons for the builders to be doing things to bolster demand, hold buyers in and limit cancellations, and I think that's what's going on out there.
David Seiders
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