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With home buying demand remaining near record levels, interest rates still very low, and a shortage of available unsold inventory, the housing market remains on solid footing.  As a result, home prices are continuing to rise at a double-digit pace as buyers scramble to purchase a home before someone else get there ahead of them.  So, the short-term forecast is for strong market conditions for the remainder of the summer.  Looking to the future however there are some early indicators that these market fundamentals are beginning to shift.  The most notable of these is the number of homes being offered for sale is beginning to rise after having declined for the past 18 months.  Another factor we are keeping an eye on is the inevitable rise of mortgage interest rates as the economy heats up and unemployment continues to decline.

As a MarketTRAC subscriber, you are invited to attend this exclusive Members-Only briefing on the latest trends for the New Jersey housing market.  Join us for this important update to be presented by Jeffrey Otteau so you can counsel your clients and maximize your business model.