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.
More Quotes from John Karevoll:
The prices hit a new record, but the rate of increase at which those prices hit that new record was the lowest in four years.John Karevoll
The boom part of the cycle is over. Most of the gains this time around are behind us. Now the question is how much of those gains do we get to keep.
John Karevoll
I think we are due for even more appreciation in the Inland Empire, but at a slower pace.
John Karevoll
The rate of appreciation is coming down. We actually thought it would be lower than this by now.
John Karevoll
These numbers include condo conversions and (that) activity increased sharply last year. Since they are lower-cost homes, they pull down the median.
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
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