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“I think it’s a good example of when a market softens, what happens. You see double-digit price appreciation go down to 4 percent or even 1 percent, and then it starts coming back to a historical norm of between 4 and 6 percent. That’s very healthy. That’s wonderful. It beats inflation.” NAR Chief Economist, David Lereah, commenting on the Denver market in a July 17, 2005 New York Times article titled ‘Housing Goes Frothy to Flat In Denver Area.’
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