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...
activity deal great picked regions
The nearby regions picked up a great deal of activity very quickly.
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.
activity current eight higher home months pace remains sales strong
The current pace of home sales activity remains historically strong only eight months have had a higher sales pace.
activity current eight expected good health higher home housing modest months pace remains sales strong volume year
The current pace of home sales activity remains historically strong - only eight months have had a higher sales pace. A modest downtrend, to a sales volume that is expected to be the second-best year ever in 2006, will be good for the long-term health of the housing sector.
boom current data early expansion housing market masked modestly sales signs soft solid starting stay transition trend underlying wind
The underlying fundamentals of the housing market are solid and sales will stay historically strong, but they will trend modestly down from current peaks. Masked by the data are early signs that housing is starting to wind down from a boom and will transition into an expansion - in other words, a soft landing.
balance buyers entering gains good high homes market news normal period result simple supply
These historically high home-price gains are the simple result of more buyers than sellers in the market. The good news is that the supply of homes on the market has been trending up and we are entering a period of a more normal balance in supply and demand.
home housing market means modest process
A modest slowdown in home sales, coupled with improvements in the housing inventory, means the market is in the process of normalization.
good health housing modest
A modest downtrend will be good for the long-term health of the housing sector.
expected good health housing modest sales volume year
A modest downtrend to a sales volume that is expected to be the second-best year ever in 2006 will be good for the long-term health of the housing sector.