New Jersey Defies National Housing Trends:
Home Sales Up 4 Percent

Sales volume of existing single-family homes, condominiums and co-ops in the first quarter of 2008 increased 4 percent from the same period last year, indicating New Jersey continues to defy national real estate trends. According to statistics released by the NATIONAL ASSOCIATION OF REALTORS^® (NAR) on May 13, 2008, New Jersey's seasonally adjusted annual rate of home sales equaled 169,600.

NAR's report of metropolitan statistical areas showed that first quarter median sales price of existing single-family homes in the Atlantic City area increased by 4.8 percent. The median sales price grew from $264,600 in the first quarter of 2007 to $277,400 in 2008. The Trenton-Ewing market also experienced an increase in median sales price. The median sales price rose from $283,800 in the first quarter of 2007 to $288,200 in 2008, an increase of 1.6 percent.

View the full reports of first quarter 2008 sales volume by state and metro area sales price.

REALTORS^® Head to Washington

REALTORS^® from around the country will be in Washington, D.C. this week for the NATIONAL ASSOCIATION OF REALTORS^® (NAR) Midyear Legislative Meetings & Trade Expo to raise the "Voice for Real Estate" before Congress and regulators. NJAR^® members will meet with their Congressional Representatives on Capitol Hill to discuss federal issues important to REALTORS^® and the industry.

If you pre-registered for the meetings and expo, be sure to bring your registration badge. Onsite registration will also be available. For more information and to view the meeting schedule, visit NAR's Midyear Meetings website.

Updated Attorney General Memorandum Available

The New Jersey Office of the Attorney General/Division on Civil Rights has updated the letter to property owners, which licensees are required to provide to residential property owners at the time when a listing is taken. The summary of New Jersey's Law Against Discrimination, also known as the Attorney General's Memorandum, has been signed by the Attorney General, Anne Milgram, and is dated April 2008. Download the updated memo in English and Spanish.

May 13 Marks Voter Registration Deadline

The last day to register to vote in the June 3 primary election is May 13, 2008. This is an excellent opportunity to make sure your voice is heard. Access the voter registration application online. Make sure to visit NJAR®'s voter's webpage for important information on election deadlines and voting instructions.

Look for NJAR^® Spot on NJN

For the sixth year, NJAR^® proudly continues its support of the New Jersey Network (NJN). NJN viewers will see a 30-second spot of NJAR^® President Drew Fishman discussing the value of REALTORS^® and their involvement in their communities during the months of April and May. Look for the spot during the following primetime weeknight and weekend afternoon programming: