David Lereah
David Lereah
David Lereah is the President of Reecon Advisors, Inc., a real estate advisory and information company located in the Washington, DC area. Lereah was previously an Executive Vice President at Move, Inc. and before that, Chief Economist for the National Association of Realtors. Lereah served as the NAR's spokesman on economic forecasts, interest rates, home sales, mortgage rates, as well as other policy issues and trends affecting the United States real estate industry. Lereah was also the Chief Economist for...
healthy great-depression economic
...housing activity will remain healthy for some time to come.
inventory gains driving
The continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.
track balloons great-depression
We are really on track for a soft landing. There are no balloons popping.
home affirmation pending
The drop in pending home sales is an affirmation that we are experiencing a modest slowing in the housing sector.
appreciation wall home
The steady improvement in [home] sales will support price appreciation...[despite] all the wild projections by academics, Wall Street analysts, and others in the media.
mean years mortgage
If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years,
years growth next-year
With sales stabilizing, we should go back to positive price growth early next year.
real believe years
I believe that in years to come, historians will see the beginning of the 21st century as the ‘golden age’ of real estate.
home mountain-peaks levels
Home sales are coming down from the mountain peak, but they will level out at a high plateau - a plateau that is higher than previous peaks in the housing cycle.
buyers continue higher home housing matter price rates results simple supply tight
It's a simple matter of supply and demand. We continue to have more home buyers than sellers in most of the country, which results in tight housing inventories and higher rates of home price appreciation.
causing demand five interest last market met modest mortgage rates rise
A lot of demand has been met over the last five years, and a modest rise in mortgage interest rates is causing some market cooling.
although conditions housing interest last mortgage rates remain risen
Although mortgage interest rates have risen in the last month, housing affordability conditions remain favorable.
areas available both conditions economic handful homes large local mainly necessary none price rapid softness supply temporary
In the handful of areas with price declines, none had previously experienced rapid price growth. In fact, they were all lower-cost areas experiencing one or both of the conditions necessary for temporary price softness -- local economic weakness, mainly in jobs, or a large supply of homes available in the local market.
coming continues cooling economy expect job markets pick though worry
Some of the cooling is coming from non-boom markets such as Detroit, where there are job problems. I do worry about those markets if the economy continues to slow, though we do expect the economy to pick up in the first quarter.