2006 Third Best Year On Record

The National Association of Realtors reports existing-home sales eased but prices stabilized as inventories tightened in December, while 2006 was the third-highest sales year on record.

Total existing-home sales – Total existing-home sales – including single-family, townhomes, condominiums and co-ops – eased 0.8 percent to a seasonally adjusted annual rate1 of 6.22 million units in December from a level of 6.27 million in November. Sales were 7.9 percent lower than a 6.75 million-unit pace in December 2005. There were 6,480,000 existing-home sales in all of 2006, down 8.4 percent from a record 7,075,000 in 2005. The second highest total was 6,779,000 in 2004; NAR began tracking home sales in 1968. Full report...

Home Starts Down In December

The National Association of Home Builders reports "single-family housing starts decreased 4.1 percent to a seasonally adjusted annual rate of 1.230 million units in December. This was 24.7 percent below the pace of single-family starts a year earlier." Full report...

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New Jersey Education Ranks High In National Survey

Education Week Quality Counts survey has given New Jersey high marks for its public education. New Jersey ranked # 4 in Chance for Success scoring, behind Virginia, Connecticut and Minnesota. New Jersey scored 19 points, while #1 Virginia scored 22.

New Jersey came in #2 for K-12 Achievement scoring with a total of 18 points compared to #1, Massachusetts, with 20 points.

The New Jersey public education system makes NJ a great place to live and raise a family. If you are thinking of buying Central New Jersey real estate, visit my website for all the tools you will need to particiate in the New Jersey housing market.

Consumer Confidence Rebounds

The Consumer Confidence Index continued to rebound from summertime lows. The December index increased 3.7 from the November level of 105.3, bringing the index to 109.0. Consumer optimism may be an indication that the housing slump which is happening across much of the country is also on the rebound.

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