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This Month in Real Estate - July 2012
Please note: Real estate is local down to the zip code, neighborhood and street levels. Market conditions vary from one neighborhood to the other and they greatly vary from county to county and state to state. The scope of this newsletter covers the national US housing market and may or may not represent overall local markets conditions in New Jersey and in your own neighborhood.
For per city or per zipcode real estate statistics and market commentary within Middlesex County NJ please see our links below:
July 2012 Market Update
The national housing market continues to recover, evidenced by a balanced supply of inventory as well as improvements in home prices and the number of homes sold. The median home price increased again this month from last month, reaching $182,000 compared to $155,600 just three months ago, a 17.4% increase.
Recently, a growing trend facing certain regions is tremendous inventory shortages. NAR President Moe Veissi advises buyers in markets with limited supply who are seeing multiple bidding and competition between first-time buyers and cash investors that, “It’s extremely important [for buyers] to listen to the advice of your agent and perform all the due diligence that you would ... more
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