The supply of homes is very tight for new and existing homes. We will continue to see healthy home-price appreciation. For non-home owners, that's bad news. But for home owners, that's building wealth.
More Quotes from Lawrence Yun:
People are moving out of these regions to the South and the West. They're putting more supply on the market at the same time there is less demand.Lawrence Yun
It's not surprising that Arkansas is up for the first three months compared to last year for the same period . It is following the pattern of affordable regions doing better than the rest of the country.
Lawrence Yun
Sellers are stubborn. It takes a long time for sellers to adjust their expectations.
Lawrence Yun
I feel comfortable with that, although 40 percent would be in the upper end of possibility. As for the lower end, getting double-digit appreciation will be an easy task for Seattle.
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
Home-buying is not a snap decision -- people mentally prepare for it and search for homes, and this is a three-to-four-month process. Plus, even with the rise in mortgage rates, they're still below last year's figure and still close to 45-year lows.
Lawrence Yun
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