Be the Expert with Local Area Statistics

Although low supply and tight credit standards are still hurdles to recovery, prices
continue to rise in most local areas. Job growth has strengthened lately, but wage
growth has not kept pace with the price gains we have seen. Buoyed by stable
and continuously lower interest rates, affordability is still historically high yet below
its all-time peak. Rising inventory levels will lead to more choices for qualified
buyers, but as the summer reaches toward fall, the prospect of more homes
coming on the market begins to wane. 

The deadline to contribute $100 to RPAC in order to receive 1 non-revenue unit for NJAR® Circle of Excellence is Monday, September 22 at 5pm.  Log on to www.njar.com to make your contribution online or stop by RealSource with a check.  Even if you do not need the point, RPAC is constantly making moves to help your industry on a national, state, and local level.    

Consumer Confidence: Highest in Nearly Seven Years

Consumers are feeling much better and more confident in recent months:  the consumer confidence index in August rose to the highest mark in nearly seven years.  Such a trend could lead to improvement in home sales and boost demand for retail commercial spaces.