Real Estate Market Facts

Despite the national trends and statistics you might have heard, the old adage that all real estate is local has never been truer. Market facts in New Jersey, combined with national incentives, make now a good time to get active in New Jersey’s real estate market. Here's why:

• First-time buyers can get up to an $8,000 tax credit.  Repeat buyers may get up to $6,500. More
• Seven-year real estate appreciation in the Garden State -- at 37% -- is five times the national average. More
• Mortgage rates are near historic lows, giving buyers a better chance to secure low payments for years to come. More
• Housing affordability – determined by home prices, income data and other factors – is high in New Jersey. More
• Increased Federal Housing Administration (FHA) loan limits means more money is available, expanding your purchasing power. More

Buyer incentives help sellers. The more buyers able to enter the market, the larger your potential pool of purchasers will be. Plus, sellers can utilize those buyer benefits if they decide to trade up.

Get the facts about your local real estate market from a local REALTOR®.