David Lereah Year Quotations

Since 1971 there have been only five months when mortgage interest rates were lower, and all of those have been during the last year and a half.

With sales stabilizing, we should go back to positive price growth early next year.

So, 2005, when we look back, was the best year in housing in recent memory, probably of all time.

Not only have mortgage interest rates declined, but an expected rise in the second half of the year will be slower than in earlier projections. As a result, we now expect to set records for both existing- and new-home sales this year.

The current pace of home sales activity remains historically strong - only eight months have had a higher sales pace. A modest downtrend, to a sales volume that is expected to be the second-best year ever in 2006, will be good for the long-term health of the housing sector.

A modest downtrend to a sales volume that is expected to be the second-best year ever in 2006 will be good for the long-term health of the housing sector.