March is much more predictive of upcoming (home-buying) behavior.
More Quotes from 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
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
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
Each market is separate, but most of the areas are developments that are at the low end of the cost scale. These are mostly entry-level houses. If you look at the last seven years in the Inland Empire, the entry-level market has been playing catch up. The appreciation cycle starts at the high end and then moves down to the middle market.
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
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