News

National Association of Realtors reported that the Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 1.5% in June to 110.2, up from the upwardly revised 108.6 in May. The PHSI in the Northeast inched forward 0.7% to 98.0 in...

OCEAN    Single Family Ocean County June 2017 Metrics                2016     2017      Change New Listings      1,172    1,273      + 8.6% Closed Sales          746       821      + 10.1% Days to Close          85         80       – 5.9% Median Sales Px $287K $294K ...

Inventory Shortages Make 2017 The Year of the Seller CoreLogic reported that 2017 is having the best sales market since 2007. One unusual metric came from CoreLogic which reported that 23% of homes’ contract price sold above their listing price and 18% of homes sold...

The Number of Renters Grows By Over 7 Million According to the Pew Research Study, homeownership rate has fallen to about its 1994 level. This means that the number of renters has increased. Unfortunately for the renters, residential housing market value has only...

Single Family Closed Sales were up 9.3% to 9,042

According to Zillow, the New Jersey median home value climbed to $305,400. Over the past 12 months, values have gone up 4.8% and they are projected to increase another 1.1% according to reports published on Zillow.  Zillow Home Value $305,400 4.8% 1-year change 1.1%...

Low inventory keep buyers from clearing out inventory

Seth Godin wrote an article on the difference between advice and criticism.  In the light of being the object of criticism, he explains that it is “quite natural to be defensive.” The article truly arrested my interest by this definition of what a critic is: “The...

According to a number of reports, it has been a very good year for the Garden State’s blueberry growers. Some are already calling it one of the better seasons in years. Based upon certain quality criteria such as quantity, quality, size and sweetness, the season has...

According to the National Association of Home Builders, there is a wave of price increases that are skyrocketing the cost of lumber across the country. In addition the NAHB is reporting issues with lumber supply as well. The NAHB blog cited that in its recent NAHB...

According to the Office of Mosquito Control Coordination in the state Department of Environmental Protection, a number of mosquitoes have tested positive for West Nile virus. This is not unusual; especially as the summer progresses, rains and heat combine to create...

New Median Home Price, Redfin