Two New Reports Show Housing Exuberance Is Waning

Further evidence that the real estate boom is moderating came from the National Association of Realtors last week.

Quarterly figures on existing home sales which include single family houses and condominium units trended downward for the second straight quarter during the first three months of 2006.

This downward trend is natural given the rise in prices and the expectations of customer's minds that the market is cooling. If you can get a better deal by waiting a few months then you will, especially on a purchase as large as a house. Rates are already lower now then they were last year at this time so it's not the prime mortgage rates.  ¶ Two New Reports Show Housing Exuberance Is Waning