National Market is Better?

Yesterday the National Association of Realtors announced that although sales eased in April after a two –month rebound and was expected. The NAR Chief Economist, David Lereah said, “Higher interest rates are slowing home sales, but we see this as another sign of a soft landing for the housing sector which remains at historically high levels,” and he is expecting, “… modest decline for the second quarter, with sales leveling out before rising in the fourth quarter.” NAR President Thomas M. Stevens says the big run-up in home prices is over. “After five years of booming sales, we are now experiencing normal market conditions across most of the country.” He also said “Inventories levels have come up to balanced levels between home buyers and sellers, so the pressure has come off of home prices and most owners can expect steadier gains in home values for the foreseeable future.” The full story can be read at Realtor Magazine.

I would be hard pressed to say that it is only higher interest rates slowing down our Sacramento market or that inventory levels are balancing prices, let alone we can expect steadier gains in the future.

By the way take a look at my Rocklin & Roseville Today column, “Ready to Show is an Everyday Job”, today, my husband Michael joined me in previewing some homes the other day and wanted to write about what he saw.