In January, the prospect for a strong Spring Real Estate Market is bleak as under contract properties were down by 27% from a year ago and the economic and financial crisis continue to depress home sales.
The under contract properties of this January are down 48% from January 2005; however New Jersey's actual foreclosure rate in January was .02% ranking it 32nd in the nation. By comparison the national average rate is .05% more than double that in New Jersey.
ON the other hand with mortgage rates dropping in the last couple of weeks,there may be a gentle 'Spring Surge' in home sales as long as mortgage rates fall and remain below 4.75% by the end of March.
Sights, sounds and living at the Jersey Shore. From Mansions to sand castles, waterfront or waterviews, condos or town houses. This blog is created as an interactive resource for all your real estate needs and concerns and as a venue for sharing stories about the Jersey Shore and its towns, a place I love. Feel free to add your voice to this forum. I want you to be heard.
Showing posts with label house sales. Show all posts
Showing posts with label house sales. Show all posts
Saturday, February 28, 2009
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Myths vs facts
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