Thursday, August 31, 2006

Potential Buyers on Sidelines

David Lereah, NAR’s chief economist, said higher interest rates dampened sales but that price softening is good news for the housing market because it is drawing buyers. “Many potential home buyers have been on the sidelines, some ‘kicking the tires,’ but mostly waiting for sellers to compromise on prices and terms,” he said. “Now sellers in many areas of the country are pricing to reflect current market realities. As a result, there could be some lift to home sales, but it’ll likely take some months for price appreciation to rise.” (NAR 8/23/06)

Wednesday, August 23, 2006

David Lereah's 'Greatest' Hits

The National Association of Realtors just released some of David Lereah's 'Greatest' Hits. These are some of the most requested power point presentations by NAR Chief Economist David Lereah and others from the last 12 months.

While reviewing David Lereah's power point presentations I found one titled 'Winding down to and Expansion' from October 2005 . Below is one of the images:

In October 2005, David Lereah was busy calling the bubble believers 'chicken littles.' Many of the predictions espoused by the 'chicken littles' are fast becoming closer to reality. Inversely, David Lereah has lost credibility because of his irresponsible cheerleading.

Sunday, August 20, 2006

David Lereah Continues To Spout 'Soft Landing'

David Lereah, NAR's chief economist, said a market transition is apparent. "With more sellers competing for the pool of buyers, the pressure on home prices has evaporated in most metro areas," he said. "After a full year of double-digit gains in the national median price, the timing is right for a cooling in the rate of growth -- we are presently experiencing a soft landing in the housing sector."