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...
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.
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.
annual area biggest increase metro
This is the biggest annual home-price increase in any metro area on record.
activity deal great picked regions
The nearby regions picked up a great deal of activity very quickly.
expected sooner three
We got to 6.6 sooner than I expected. I hadn't expected that for two or three months.
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.
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.
years growth next-year
With sales stabilizing, we should go back to positive price growth early next year.
mean years mortgage
If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years,
home affirmation pending
The drop in pending home sales is an affirmation that we are experiencing a modest slowing in the housing sector.
track balloons great-depression
We are really on track for a soft landing. There are no balloons popping.
inventory gains driving
The continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.
healthy great-depression economic
...housing activity will remain healthy for some time to come.
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%.