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)
2 Comments:
I am looking for a guest write to criticize Mr. Lereah. Please email bubblemeter @ gmail.com
Kudos to you and your great blog. Its good to see that someone is paying attention to the prophesy from the NAR Mountain-top. Keep up the great work!
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