In less than an hour we’ll have the housing numbers for the month of July. Experts predict continuing weakness but we don’t know if they will match the dismal levels of June’s resale numbers

This is the Hudson County MLS (Hudson County Multiple Listing Service) list of Condo and Co-ops sold in Hoboken during August 2010

Post Source : Hoboken Apartments August Sales from Hoboken Apartments- Hoboken Apartments, Condos, Homes

The Case-Shiller report is bringing us some much needed goood news – espercially in light of the July home sales debacle .  The most obvious is that the California market, arguibly the worst hit market in the nation, is improving dramatically. Sure you can argue that the prices are so low that it was prcatically impossible to go lower but reality is that without buyers prices do not go up. California prices have rebounbded smartly. The other good news – well I look at it as good news anyway- is that the ratio of housing prices vs. annual income is back in line with historical norms.

The bad news, well this number still  includes the homes sold as a result of the $8K tax credit.   Markets such as Las Vegas and Florida are still in decline.

All told 17 of the 20 markets covered by the Case Shillert index showed improvement with anb aggregate increase of 4.2% fromn the  same quarter last year andreversing the 2.8% drop in the  first quarter! Click here to read full report

This is the Hudson County MLS (Hudson County Multiple Listing Service) Hoboken list of Rentals, Condo and Co-ops, Houses and Businesses that reported a change in the listing price. Call me for full de

Post Source : Hoboken Apartments, Price Reductions from Hoboken Apartments- Hoboken Apartments, Condos, Homes

This is the Hudson County MLS (Hudson County Multiple Listing Service) list of Rentals, Condo and Co-ops, Houses and Businesses that reported a change in the listing price for the past week . Call me

Post Source : Downtown Jersey City, Last Week’s Price Changes from Jersey City Real Estate- Jersey City Real Estate, Condos and Houses

Great new 3 bedroom 3 bath townhouse with garage , deck and backyard, walk to path! Click Here for full details

This is certainly in the running !

Housing starts for  July  came in at   546,00   up from  a revised 536,000 in June, representing a 1.7% incrase  but lower than expected.( Without the revision the number would be less than in  June) expected . Permitscame in at 565,000 which is lower thant the dowardly revised June number 583,000, representing a 3% decline.

My take:  I am not all that sanguine on new construction numbers. The immediate problem we have now is inventory- that’s due to lack of buyers and that’s due to high unemployment and so on, but inventory is the issue.   Becasue of that I am not all that upset that new supply is not not coming in at ”expected”levles. We are still in a bottoming out phase and a limitted supply is not a disaster.

77 Hudson Jersey City NJ

“According to the NATIONAL ASSOCIATION OF REALTORS ^® (NAR) second quarter 2010 State Resale Report, New Jersey existing home sales have far outpaced the nation. Existing home sales in the Garden State increased 15.4 percent from the first quarter of 2010 to the second. New Jersey’s resales are 29.9 percent higher than the second quarter of last year. The national figure for second-quarter resales only showed a quarterly sales increase of 9.1 percent and a yearly increase of 17.3 percent.

In addition, each of New Jersey’s metro areas showed year-over-year growth in median home price, according to NAR’s Metropolitan Area Home Price Report. According to NJAR^® CEO Jarrod Grasso, “This may be a sign of market stability. Even with the tax credit out of the equation, today’s buyers can experience record-low interest rates and affordable prices. However, these conditions will not last forever.”
Source NJAR

National Association of Home Builders’ housing market index for August came in at the lowest level since 2009 . The index  was  expected to tick up modestly from July’s reading of 14 . That wasn’t the case  and instead the index fell to 13, the lowest level since March.  A reading below 50 is considered a negative sentiment about the market.