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Cranford NJ Real Estate Market News....What's Happening Out There???
Cranford NJ Real Estate Market News..."What's Happening Out There?"
With all of the news media reports about the ‘national' economy, and the ‘national' real estate market, it is very difficult to decipher exactly what that means for towns like Cranford. There really is no such thing as a "national" real estate market, as people who purchase homes in a community often work in that community, or within commuting distance. This means that they earn money locally, and usually spend that money locally. The national media often reports on national statistics, and while they can be helpful to uncover trends in the macro-economy, it is important to understand that the Real Estate market, and even the economy are highly localized, and can vary tremendously from one state to the next, or even one town to the next.
In this month's Market News, I thought it would be helpful to share what's happening now, while also comparing it to historical data, to illustrate how Cranford real estate has performed from its peak of 2005-2006 to the present. Whether you are buying or selling, or just live in Cranford, this information can help you better understand how the recent recession has affected the local ... more
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