Excerpts from the interview are below.
On what the S&P/Case-Shiller Home Price Index for April indicates about the housing market:
“It is good news, about half of it is seasonal. It is good news for sellers, not for buyers as home prices continue to go up. It will continue through the summer months, but I don’t know what to predict beyond that.”
On whether the worst of the housing decline is over:
“I’m concerned. I think when people shop for housing they should focus primarily on what do I want. I don’t see how we can forecast where it will go with any reliability.”
**FOX BUSINESS NETWORK**