The market currently is a little lower than expected - Lereah

I watch Marketwatch.com pretty regularly. I could not help noticing yesterday that the latest housing news would drop quickly on the front page until it was gone by the end of the day. And the news was not trivial. In September, pending homes sales are down 1.1% from previous month, actual homes sales are down 14% in the past year, building permits are down 27%. Mortgage applications are down 3% from the week before. Applications for purchase loans are at a three-year low. Whenever news like this comes out you can expect to hear from National Association of Realtors chief "economist" David Lereah. It's hard to edit down this asswipe's quotes because they are all so classic.

"The present level of home sales is relatively high in historic terms, and we can expect generally minor movements around this level," said David Lereah, chief economist for the realtors' group. "We don't expect to see any changes of note until early next year when we're likely to see a modest lift to home sales."

"The market currently is a little lower than expected as buyers try to time their entry," Lereah said. "In the meantime, there's some buildup in demand that will move when consumers realize that conditions are optimal for them."

My god I don't think that needs any more comment. This is the entire Marketwatch article that was not on for long.
And yes that is Jesus-freak Katherine Harris getting her Homeownership Hero Award from Lereah.