John Karevoll
John Karevoll
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.
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.
broader closer cycle level markets plays smash wall watching ways whether
It's part of a broader trend. Nationwide there are markets that have a ways to go, especially in the Midwest. But we're much closer to the end of the cycle than the peak. Now we're watching how it plays out -- whether it's going to smash into a wall or just level off for a while.
market
That part of the market is pretty stable, it's just that there's been across-the-board appreciation.
indication march
Once we have March figures, we'll have a much better indication of what's going on.
county diego easily san
San Diego has easily been the county with the most (conversion) activity.
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.
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.
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.
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.
doubling four last prices
We've had a doubling of prices in the last four years.
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.
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.
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.