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."