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...
appreciation good highest home interest level modest mortgage news quarter rates record sales seen since slowing strong sustained third
Mortgage interest rates were at the highest level since the third quarter of 2003. At the same time, we've seen strong double-digit appreciation in home prices, so a modest slowing from record sales was to be expected. The good news is that home sales are being sustained at historically high levels.
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.
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.
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.
appreciation real opportunity
Real estate is still a great investment opportunity for households. Price appreciation will continue. It may not be at 20%. It may ... even go down to 5%.
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.