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New Jersey Real Estate

Blog by Karl von Loewe
Hillsborough, New Jersey
Real estate market information and occasionally spirited opinions about residential real estate in Somerset, Hunterdon, Mercer and Middlesex Counties by a REALTOR® with over a quarter century of experience. COMMENTS ARE WELCOME. Please use the Add Comment link at the bottom of the posting.

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Worst Real Estate Decline in Thirteen Years!
Posted at New Jersey Real Estate by Karl von Loewe
Mar. 29, 2007

OK, I got your attention with that recent online headline, right?  It got the attention of one of my clients as well, who expressed great dismay.  In fact, that headline refers to new home construction numbers of January.  New home "sales" refer to contracts signed, not properties closed, unlike resale numbers, which are transactions closed.  Remember the positive numbers for resales in February?  Those were December contracts (on average).  New homes numbers tend to be very volatile, especially in areas where there is climate change, like snow . When reading National Association of Realtors® market reports, don't draw conclusions for resales from new construction figures. 

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