The best source that i've found for data on the suburban New Jersey market is the Otteau Report. It's published by Jeff Otteau, an appraiser, analyst, and speaker on the NJ market.
According to his June report, the New Jersey housing market (mostly single-family homes) looks like it may be stabilizing. In May, contract sales finally equalled the same month's sales in 2008. But to me the most interesting point in his data is that the number of sales in NJ peaked in 2005, at about double the present rate and three times the sales rate of the 4th quarter 2008/1q 2009.
We forget how early the real market peak was in some places.
I highly recommend his report. It is primarily a subscription service. See Otteau.com.
According to his June report, the New Jersey housing market (mostly single-family homes) looks like it may be stabilizing. In May, contract sales finally equalled the same month's sales in 2008. But to me the most interesting point in his data is that the number of sales in NJ peaked in 2005, at about double the present rate and three times the sales rate of the 4th quarter 2008/1q 2009.
We forget how early the real market peak was in some places.
I highly recommend his report. It is primarily a subscription service. See Otteau.com.
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