I think we are in a fairly normal market here. The market we are comparing to a year ago was an abnormal market.
More Quotes from John Karevoll:
It's not that it's a particularly active market. It's just that more homes are in that category because of that rise in the rate of appreciation.John Karevoll
In most markets, the boom phase of the real estate cycle is behind us. The market is reestablishing a balance between supply and demand, buyers and sellers.
John Karevoll
The rate of appreciation is coming down. We actually thought it would be lower than this by now.
John Karevoll
When people got into trouble, they could tap into fast-building equity. Now that the equity is not building as fast, there's not as much to tap into in troubled times.
John Karevoll
We knew this would happen, and it's happening later than we thought. We thought appreciation was going to come down. We definitely thought the entry and middle markets would be less strong than they are today.
John Karevoll
We expect prices to continue to go up but at a slower pace. We expect the (annual) appreciation rate by summer to come down to below 10 percent.
John Karevoll
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