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Housing Statistics
The New Jersey Association of REALTORS® (NJAR®) receives housing statistics on a quarterly basis which are compiled by the NATIONAL ASSOCIATION OF REALTORS® (NAR).
View the quarterly reports on New Jersey home sales.
The most recent statistics include sales of existing single-family homes in the
1st quarter 2009 report.
Pending Home Sales Up for Third Consecutive
Month, Existing Home Sales Rise
Record low mortgage interest rates boosted the NATIONAL ASSOCIATION OF REALTORS®' (NAR) forward-looking pending home sales index 6.7 percent in April to 90.3 from a reading of 84.6 in March. The April 2009 reading is 3.2 percent above April 2008. "Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market, too," says NAR Chief Economist Lawrence Yun. The index in the Northeast shot up 32.6 percent from March to 78.9 in April.
Existing-home sales in the Northeast also rose 11.6 percent in April to a seasonally adjusted annual rate of 770, 000 units, which is a decrease of 10.5 percent below 2008. The median existing-home price for all housing types in the Northeast was $237,400, which is 9.6 percent lower than a year ago.
For more information on pending home sales, read NAR's press release or watch a video interview of Lawrence Yun on the latest index figures. For more on existing home sales data, visit REALTOR.org. You can also read 2009 NJAR® President Diane Dilzell's comments from a New Jersey 101.5 story on the April housing bounce.
Survey Reveals Characteristics of NJ Buyers & Sellers
The complete
2008 Profile of New Jersey Home Buyers & Sellers is now available to NJAR®
members. The
Summary of the
2008 Profile of
Home Buyers & Sellers is available to the public.
Based on a survey of consumers who bought or sold a home between July 2007 and June 2008, the Profile provides REALTORS®
and real estate professionals in New Jersey with insights into the characteristics, needs and expectations of
their clients. For instance, 46 percent reported it was just the right time for them to buy, 18 percent noted they had to purchase when they did, and 22 percent reported it was either due to improved affordability of homes or availability of homes for sale. Only 4 percent stated they wished they had waited to buy.
NJ REALTORS® Take a
Closer Look at Homeownership and Rental
Affordability
Unveil an Online, Interactive New Jersey Specific Paycheck to Paycheck Database
On June 12, 2009 the GRF unveiled an online, interactive database prepared by the nationally recognized Center for Housing Policy that compares wages for selected occupations with the costs of owning and renting a home. The purpose of the New Jersey specific Paycheck to Paycheck database is to examine housing affordability around the state.
Paycheck to Paycheck provides custom charts examining the affordability of homes in all 21 counties in New Jersey for workers in 29 different occupations. Paycheck to Paycheck uses a common set of data applied in a consistent way to examine housing affordability. To view the database, visit www.njar.com/paycheck2paycheck.
Read the GRF press release to determine the New Jersey findings and data.
Local & State Reports
Metro Market Reports
These metro market reports reflect data
available for the 4th quarter 2008 and provide
insights into the fundamentals and direction
of the nation's largest metropolitan housing
markets. Each downloadable report evaluates
a number of factors affecting home prices,
including the local job market, foreclosure
rates, housing inventory and debt-to-income
and mortgage-servicing-costs-to-income
ratios.
Click here for guidance on interpreting
the reports.
Subprime ARM Performance - New Jersey and
National
May 2008
New Jersey Mortgage Conditions
Presents the current level of subprime
exposure and its impact upon foreclosure
activity in New Jersey.
Economic Impact of Real Estate in New Jersey
The real estate industry accounted for
$93,597 million or 20.1 percent of the Gross
State Product for New Jersey in 2007. Read
more about the economic impact in the
report.
Price Analysis
Detailed outlines providing historical
data and forecasts on price appreciation and
foreclosure rates.
Metro Area Wealth Gain Reports
Look at homeowners' equity accumulation
over the years in the following metropolitan
regions:
Relocation Reports - Updated with the
most recent information available, members
can view these reports to determine which
counties relocation clients are coming from
and going to along with income information.
National Housing Statistics
The
NATIONAL ASSOCIATION OF REALTORS® (NAR)
conducts research and has available several
reports such as national housing statistics, and
economic indicators and forecasts.
NAR's housing statistics include Existing
Home Sales, Pending Home Sales,
Metropolitan Area Home Prices, State
Existing-Home Sales and the Housing
Affordability Index.
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