Any time there's job creation, historically prices don't go down.
More Quotes from Lawrence Yun:
Our experience says prices do not go down when there's job creation in the local economy. In local markets where they are flat on jobs, they could see prices decline. But we're projecting 2.3 million new jobs this year. The job market is providing a buffer. It's a counter force to rising rates.Lawrence Yun
So long as the South remains affordable and the number of available jobs remains steady we forecast continued growth in Atlanta.
Lawrence Yun
A cut...won't affect the 30-year fixed mortgage rate at all. According to Freddie Mac, the 30-year fixed rate was 6.8 percent last week, and we think it'll stay about the same. But another interest rate cut could mean a slight drop in the short-term one-year adjustable rate mortgage (ARM).
Lawrence Yun
You're seeing two separate markets. One is in the coastal regions where you're seeing a substantial decline in home sales. The second is in the middle part of the country, in the affordable regions, where the job market is more important than interest rates.
Lawrence Yun
Prices have doubled in some Florida markets over the past four or five years, so the 10 percent increase we're forecasting for the state this year might seem kind of small compared to recent trends.
Lawrence Yun
What we had in the past couple of years was an unprecedented frenzy of activity. That's what we're seeing A decline from a frenzied, unsustainable rate.
Lawrence Yun
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