It is all good news for the real estate market. Nationwide sales continue to post gains in pricing and inventory continues to drop. Mortgage rates are now at an all time low.
According to a recent article in the Wall Street Journal, "National home values rose by 1.1% in October from September, the largest monthly gain in seven years," according to their report.
And in CNN Money Magazine, "Mortgage rates dropped to a record low of 3.31% for a 30 year fixed and 2.63% is the average for a 15 year fixed rate."
Trulia economist, Jed Kulco, claims the market is 47% "back-to-normal" and that the housing market is beginning to accelerate.
What does all this mean?
Reduced inventory in the Bergen County area means pricing has stablized or increased slightly. And, buyers are still able to get more for their money because of reduced interest rates. Now is the time to list your home AND now is the time to buy.
For more information, click on the articles below.
Pamela Stetson - Top Ten Agent, Multi-Million Dollar Sales Club.
For more information about buying or selling your largest financial asset, contact me at CupaT@aol.com. *The data is based on information from the NJMLS. All information is deemed reliable but is not guaranteed.
Copyright - Pamela Stetson 2012