Trey Garrison | HousingWire
Chief Economist Jonathan Smoke talks home prices, home sales, credit boxes and more in this exclusive HousingWire interview that hints at what his 2015 forecasts may hold.
HousingWire: Are we looking at a coming “quiet time” for housing in 2015, in the sense of the pendulum no longer swinging one way or another, but rather returning to more sustainable, stable levels of home price growth and sales?
Jonathan Smoke: We are clearly moderating to home price appreciation levels much more consistent with long-term annual gains. Over the past 10 years, we lived through macro, financial anomalies that caused the pendulum to swing uncharacteristically up and then down. As the pendulum moved down, it over-corrected in 2010-2011 leaving us with abnormal swings back up in 2012-2013.
Related: Housing stepping in the right direction but at muted pace
