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.
More Quotes from 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
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
March is much more predictive of upcoming (home-buying) behavior.
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
Only if we have very short memories can we say there's a downturn in sales, or at least that sales are significantly low. This is actually as close to a normal market that we've had in seven to eight years.
John Karevoll
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