May 16, 2007
Real estate clerks of America - can't you do anything to either shut these fools up, or at least give them some talking points that reflect reality?
They're making your profession more and more of a joke (is that possible?) every day.
NAR President Pat V. Combs said in a statement that the flattening in home prices is encouraging.
"It appears the worst of the price correction is behind us," she said. "More stable home prices and declining mortgage interest rates are increasing buying power, which should encourage potential buyers who've been on the sidelines."
NAR's senior economist, Lawrence Yun, also took an optimistic view of the report. "Essentially, we see that the existing-home market is stabilizing in a broad cyclical trough and moving in the right direction," he said in a statement.