So Long To A "Cool 2006"
In January 2006, David Lereah, chief economist for the National Association of REALTORS® predicted that “the key word for the housing market in 2006 is balance, with a return to a more normal rate of price growth”. According to Lereah, cooling sales are necessary for the long-term health of the housing market.
Indeed, 2006 was a “cool” year compared to the overheated pace of 2005 housing sales. The market is in the process of approaching normalcy as the rise in home prices adjusts closer to the long-term norm, which is just a percentage point or so above the overall rate of inflation.
The long rang mortage forcasts look very good.........what a great time to buy a home! Make sure to click on the Morgage Matters button on my website or off the home page a click to Coldwell Banker Mortage icon will get you all the information you need. SeeYou...............................