John Karevoll
John Karevoll
fast half year
It's still going up, not as fast as it was a half year or a year ago.
awful everybody sky tanks telling
There are an awful lot of analysts and think tanks out there telling everybody in the world the sky is falling, and they have been consistently wrong.
building equity people tap troubled
When people got into trouble, they could tap into fast-building equity. Now that the equity is not building as fast, there's not as much to tap into in troubled times.
doubling four last prices
We've had a doubling of prices in the last four years.
close eight market memories normal sales seven short
Only if we have very short memories can we say there's a downturn in sales, or at least that sales are significantly low. This is actually as close to a normal market that we've had in seven to eight years.
buffer equity people prices year
But when prices don't go up as fast, you don't have that built-up equity like you did before. People won't have that buffer the way they did a year or two ago.
four hit increase lowest prices rate record
The prices hit a new record, but the rate of increase at which those prices hit that new record was the lowest in four years.
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.
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.
appreciation definitely entry happening knew later less markets middle strong
We knew this would happen, and it's happening later than we thought. We thought appreciation was going to come down. We definitely thought the entry and middle markets would be less strong than they are today.
appreciation coming lower rate
The rate of appreciation is coming down. We actually thought it would be lower than this by now.
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.
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.
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.