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)

3 Comments:

At 5:08 PM, Blogger David said...

I am looking for a guest write to criticize Mr. Lereah. Please email bubblemeter @ gmail.com

 
At 10:30 AM, Blogger Cook Team said...

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!

 
At 2:20 AM, Blogger Richard M. Johnston, Realtor said...

Interesting how many people think they can predict the future of the real estate market. I believe David Lereah is talking about the present without inducing fear into the public. Nobody can predict the future and to expect David Lereah to say something which may not be true, would be wrong.

Honestly, what do you expect the man to say? That the market is doomed? Lets get real.

http://www.properties.la

 

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