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.
More Quotes from 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
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
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
I think we are in a fairly normal market here. The market we are comparing to a year ago was an abnormal market.
John Karevoll
The ups and downs of default activity are clearly determined by whether prices are going up by 4 percent, or 14 percent or 25 percent annually. If it's worth more, you have more options.
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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Based on Topics: Balance QuotesBased on Keywords: reestablishing
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