David Lereah Quotes

With mortgage interest rates projected to rise slightly to around 7.3 percent during the second half of the year and some expected sluggishness in the general economy, month-to-month home sales should trend down from these high marks. However, we expect a total of 5.15 million existing-home sales in 2001, making this year the second highest on record.

- David Lereah

Tags

Mortgage | Interest | Rates | Projected | Rise |

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The Boomers are in their peak earning years, buying second homes and retiring to Florida. We're seeing a lot of development and a lot of building but demand is greater than supply. - David Lereah

So far this year, we've already recorded the four highest monthly sales rates on record for existing-home sales, but the pace can't stay at unprecedented levels indefinitely. - David Lereah

In the handful of areas with price declines, none had previously experienced rapid price growth. In fact, they were all lower-cost areas experiencing one or both of the conditions necessary for temporary price softness -- local economic weakness, mainly in jobs, or a large supply of homes available in the local market. - David Lereah