John Karevoll
John Karevoll
carefully declines impending market price seem showing signs watching
What we're watching for here carefully are signs of a significant downturn, especially for price declines ... There are hiccups here and there but as a whole the market does not seem to be showing any signs of an impending decline.
appreciation coming lower rate
The rate of appreciation is coming down. We actually thought it would be lower than this by now.
market
That part of the market is pretty stable, it's just that there's been across-the-board appreciation.
buyers felt stretch urgency
There isn't a sense of urgency in the market. Buyers don't feel they need to stretch (finances) the way they felt before.
activity clearly default determined downs percent prices ups whether worth
The ups and downs of default activity are clearly determined by whether prices are going up by 4 percent, or 14 percent or 25 percent annually. If it's worth more, you have more options.
indication march
Once we have March figures, we'll have a much better indication of what's going on.
buy demand homes people strong
Demand is still very strong out there. The people who want to buy homes still outnumber the people who want to sell.
appears call close market normal
It appears that today's market is probably as close to what we would call normal as we've had in a long time.
abnormal comparing fairly market normal year
I think we are in a fairly normal market here. The market we are comparing to a year ago was an abnormal market.
affordable cycle happen include itself played
The million-dollar cycle hasn't completely played itself out in the more affordable areas, which include the Inland Empire. There is more to happen there.
activity condo include increased last numbers pull since
These numbers include condo conversions and (that) activity increased sharply last year. Since they are lower-cost homes, they pull down the median.
builders continued demand homes less sell strong trying understood
I don't think they're less cautious. But they've just understood that they can sell more. There's just continued strong demand for homes, and the builders are trying to build homes that will sell.
balance behind boom buyers cycle estate market phase supply
In most markets, the boom phase of the real estate cycle is behind us. The market is reestablishing a balance between supply and demand, buyers and sellers.
abnormal behind market period point year
The frenzied period is behind us. But that's good, from a market point of view. The abnormal market was the one we had a year or two ago.