Every year, Gallup conducts a survey of Americans to determine their choice for the best long-term investment. Respondents are asked to select real estate, stocks/mutual funds,
November FastStats For The State Of NJ
November monthly indicators for the residents of the state of New Jersey via NJAR.com
In November, the Federal Reserve reduced its benchmark rate for the third time this year. This action was widely anticipated by the market. Mortgage rates have remained steady this month and are still down more than 1 percent from last year at this time. Residential new construction activity continues to rise nationally. The U.S. Commerce Department reports that new housing permits rose 5% in October to a new 12-year high of 1.46 million units.
• Single Family Closed Sales were down 3.6 percent to 6,328.
• Townhouse-Condo Closed Sales were up 3.0 percent to 1,845.
• Adult Communities Closed Sales were up 3.0 percent to 662.
• Single Family Median Sales Price increased 7.1 percent to $337,250.
• Townhouse-Condo Median Sales Price increased 3.8 percent to $275,000.
• Adult Communities Median Sales Price increased 6.1 percent to $217,500.
While many economic signs are quite strong, total household debt has been rising for twenty-one consecutive quarters and is now $1.3 trillion higher than the previous peak of $12.68 trillion in 2008. While delinquency rates remain low acrossmost debt types (including mortgages), higher consumer debt loads can limit future household spending capability and increase risk if the economy slows down.
Brian is a real estate sales professional with a passion for providing excellent customer service, speedy communication and upholding the highest standard of professionalism. Catering to specialized n....
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