statistics are like beauty, it's in the eye of the beholder! (Thanks, mom, for
your continued support). However there are signs that our markets are
looking better and better.
Here is a
list of some resent statistics compiled from the New Jersey Association of
REALTORS® that shed a favorable
light on our Garden State. Knowing as
many facts as possible is advantageous to making the best decisions for you and
let me know how I can help!
Here's the Latest...
Existing-Home Sales Up, Prices Rise Again
sales rose in April and remain above a year ago, while home prices continued to
rise, according to the NATIONAL
ASSOCIATION OF REALTORS®. The improvements in
sales and prices were broad based across all regions.
Total existing-home sales, which are completed
transactions that include single-family homes, townhomes, condominiums and
co-ops, increased 3.4 percent to a seasonally adjusted annual rate of 4.62
million in April from a downwardly revised 4.47 million in March, and are 10.0
percent higher than the 4.20 million-unit level in April 2011.
Lawrence Yun, NAR chief economist, said the
housing recovery is underway. “It is no longer just the investors who are
taking advantage of high affordability conditions. A return of normal home
buying for occupancy is helping home sales across all price points, and now the
recovery appears to be extending to home prices,” he said. “The general
downtrend in both listed and shadow inventory has shifted from a buyers’ market
to one that is much more balanced, but in some areas it has become a seller’s
existing-home sales in the Northeast rose 5.1 percent to an annual level of
620,000 in April and are 19.2 percent higher than a year ago. The median price
in the Northeast was $256,600, up 8.8 percent from April 2011.
To view the
full story, please view NAR’s press release.
Pending Home Sales Rise, Market Recovering
sales increased in March and are well above a year ago, another signal the
housing market is recovering, according to the NATIONAL ASSOCIATION OF REALTORS® (NAR).
Home Sales Index (PHSI), a forward-looking indicator based on contract
signings, rose 4.1 percent in March from an upwardly revised February and is
12.8 percent above March 2011. The data reflects contracts but not closings.
The index is
now at the highest level since April 2010. Regionally, the PHSI in the
Northeast slipped 0.8 percent in March but is 21.1 percent above March 2011.
Quarter Metro Median Prices and Affordability Reports Now Available
the NATIONAL ASSOCIATION OF REALTORS®' (NAR) 2011 Fourth Quarter Metropolitan Area Median Prices and
Affordability reports, NJAR® CEO Jarrod C. Grasso issued the
doubt that now is a tremendous opportunity to enter the New Jersey real estate market.
For consumers with steady income, the case for homeownership is strong. If you
are a first-time buyer or renter, you should look to take advantage of the
state’s market conditions.”
release also introduced the American
Dream Get the REAL Story® campaign which appeals to the emotional aspect of buying a
the full press release for
additional details and statement from NJAR® President Gary Large; and check out
the American Dream campaign.
‘Hurdle Rate’ Favorable for Buying
Now is a
great time to buy because the “hurdle rate” is very favorable toward home ownership,
an academic study by researchers at three universities finds. Learn more in a 2-minute video in which one of the researchers talks
about the findings.
Launches Website Detailing Property Tax Records and Other Vital Public
In an effort to increase government
transparency, Governor Chris Christie recently launched a website that provides
the public with data that makes it easier to understand New Jersey’s public finances.
Included on this website, www.YourMoney.NJ.Gov, is an interactive map
that displays the Garden State’s 3.1 million
property tax assessment records. With the new property tax feature, REALTORS® and consumers can check individual
records in their town or community, jump from record to record, and compare
assessments and taxes from one town to another.
Be sure to visit the website frequently to provide your feedback and view other
Get the Facts
national trends and statistics you might have heard, the old adage that all
real estate is local has never been truer. Market facts in New Jersey, combined with
national incentives, make now a good time to get active in New Jersey’s real estate market.
Housing affordability – determined by home prices, income
data and other factors – is high in New Jersey.
The NJ Housing & Mortgage Finance Agency (NJHMFA) offers low-interest loans and down
payment assistance to first-time home buyers. Find out more about those
programs and the Live Where You Work initiative for all eligible buyers.
and attractive neighborhoods, great schools, and other benefits, New Jersey is a great fit for
the three rules of real estate – location, location, location. See what makes
the Garden State such a great place to
live and check out our interactive map to see specific county information and
local real stories.
it a great day!
Perez, Broker - REALTOR
201.344.2886 mobile / text
RE/MAX Gold Coast Realty
56 Newark St, Hoboken NJ 07030
Representing the finest properties......Yours!