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 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.
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.
expected sooner three
We got to 6.6 sooner than I expected. I hadn't expected that for two or three months.
above afford available bid buffer buy buyers compete cost country debt family home low means natural pressure prices purchase seeing service typical
With more buyers than sellers nationally, what we're seeing is a natural pressure on home prices as buyers compete to bid on available properties. Fortunately, the historically low cost of debt service on a home purchase means that we have a comfortable buffer in most of the country because the typical family can afford to buy a home well above the median price.
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.
current home lower sales sustained
Right now, home sales are a little lower than projected, but they can be sustained around current levels.