The Record / northjersey.com
Jeffrey Otteau of the Otteau Valuation Group in East Brunswick, whose forecasts are widely followed in the real estate community, predicted that state home prices will rise 2 percent this year and 3 percent next year. That’s a slower pace than last year, when prices were up about 4.2 percent — the first significant rise in years. And the number of sales is down this year, compared with last year. “Momentum in home sales has slowed, but even with this slowdown, the housing market is much better than it was two, three, five years ago,” Otteau said in an interview Thursday.
