There is no evidence here of prices topping out. On the contrary, house-price inflation continues to accelerate, as some areas that have experienced relatively slow (price) appreciation are picking up steam.
More Quotes from Patrick Lawler:
While deceleration continues in some areas, appreciation generally is still extremely strong. Mortgage rates climbed significantly during the second half of last year, but the effect of that increase on price appreciation so far appears to be limited.Patrick Lawler
Despite recent indications that a slowdown may be forthcoming, house price appreciation during 2005 continued to hover at hear-record levels.
Patrick Lawler
There is no evidence of prices topping out. On the contrary, house price inflation continues to accelerate, as some areas that have experienced relatively slow appreciation are picking up steam.
Patrick Lawler
Some deceleration can be seen in a number of the faster-appreciating markets. Price momentum in the Pacific and New England states, in particular, has pulled back.
Patrick Lawler
The robust appreciation rates are striking both in terms of their magnitude and in their geographic scope, ... However, they are likely unsustainable given the underlying inflation rate, income growth and other factors.
Patrick Lawler
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