John Karevoll Prices Quotations

The prices hit a new record, but the rate of increase at which those prices hit that new record was the lowest in four years.

But when prices don't go up as fast, you don't have that built-up equity like you did before. People won't have that buffer the way they did a year or two ago.

We've had a doubling of prices in the last four years.

San Diego is the county that is kind of the furthest off into this uncharted statistical territory, so everybody's wondering what is going to happen locally. The big question there is will prices decline significantly or will they flatten out.

The ups and downs of default activity are clearly determined by whether prices are going up by 4 percent, or 14 percent or 25 percent annually. If it's worth more, you have more options.

The market could go into a lull phase for a while where prices flatten out because we've pulled a lot of (sales) activity from the future.