While new-home sales have been quite strong throughout 2005, we see a cooling of the market to a healthy and more sustainable pace in the months ahead, as substantiated by recent surveys of our builders. For 2006, we expect to see a 6 percent to 7 percent drop in sales, but certainly no reason for alarm. This would make 2006 the second or third best year in housing history.
More Quotes from David Seiders:
When looking at these numbers, you have to step back and focus more on trends than on month-to-month shifts to see meaningful patterns. This government report traditionally has lots of month-to-month volatility and is subject to substantial revision.David Seiders
The housing market is seeking out a peak. While it is still too early to conclude that it has found one, there is growing evidence that the Fed has started to hit its mark and housing will begin losing some of its exuberance in the period ahead.
David Seiders
It was impossible to maintain double-digit price inflation like we've seen the past few years.
David Seiders
This is obviously exuberant behavior by builders.
David Seiders
It's healthy. We do need to have that happen -- gracefully, though. Affordability problems are glaring in the hottest areas. We've reached the point where something's really got to give.
David Seiders
I've been expecting the housing-production component of GDP to move from a strong growth engine to a neutral or negative element in the U.S. economy over the next year and a half.
David Seiders
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