Home prices were up again in most or our markets, but at reduced levels compared to years past. Demand was high and supply was not, which helped fuel the price increases. There is evidence that in 2019, that the inventory will improve. What did not help in 2018, were the 4 interest rate hikes by the Federal Reserve, which also made the stock market very nervous. The Fed has indicated that the number of rate hikes in 2019 will be cut in half, which may bring comfort to some, but not to everyone. Here are the statistics Statewide. If you would like more localized statistics, please email us and we will get them to you.
Single Family Homes Closed Sales were down 6.7% to 6,262
Townhouse/Condos Closed Sales were down 12.4% to 1,761.
Adult Community Sales were down 13.6% to 542.
More to come. Please remember to reach out if you would like more statistics or more localized statistics.
Information Courtesy of New Jersey Realtors®