According to the report by CNBC:
■ Home sales jumped nearly 9% in March compared with March 2016.
■ The number of homes for sale plunged 13% according to a new report from Redfin.
■ Demand increased causing the fastest average sales pace since 2010.
■ The average home went to contract in 49 days, falling from an average of 60 days in 2016.
■ The median price of a home sold in March to $273,000, up 7.5% year over year.
■ Mortgage applications rose 1.5 percent last week
■ The average loan size for existing homes reached the highest on record this month.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.