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March 2018 Housing Market Recap: Sales Grow for Second Month

March existing home sales continued to rise after February’s increase. Prices increased yet again, following a trend that has lasted for 6 years.  The pace of sales picked up, with days on the market dropping sharply.  There were regional differences in sales, but prices increased across the country.  Lack of inventory continues to be the…

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April 24, 2018

February 2018 Housing Market Recap: Sales On The Rise

February existing home sales rose after a two-month slide. Prices continued to rise, too.  Sales moved very quickly, with days on the market dropping again.  All was not equal across the country, however, with bad weather in the Northeast and Midwest influencing the market.  Sales in those regions may suffer another decline after March storms,…

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March 22, 2018

January 2018 Housing Market Recap: Sales Fall For A Second Month

January existing home sales followed the downward slide that began in December with the biggest annual drop in more than three years. At the same time, prices continued their march upward.  Days on the market were up slightly, but were still lower than they were a year ago.  Is there an end in sight to…

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February 23, 2018

December 2017 Housing Market: Monthly Sales Down But 2017 Growth Best Since 2006

December existing home sales fell compared to November, but the news for 2017 as a whole was positive. Sales grew to a level not seen since 2006, in spite of the continuing drop in inventory and corresponding increase in prices.  Days on the market mirrored the previous month, but were lower than they were a…

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January 26, 2018

November Housing Market: Sales Near 11 Year High

November existing home sales jumped to a level not seen since December 2006, despite the continued lack of inventory. Given the increase in sales and the low supply, it’s not surprising that median prices continued to rise, extending the streak of year-over-year price increases.  Homes stayed on the market slightly longer than in October, but…

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December 22, 2017

October Housing Market: A Slight Uptick In Sales

The current housing market serves as a classic illustration of the law of supply and demand. At this time, demand outstrips supply and prices increase as a result.  The good news is that there were more sales in October compared to the previous month, but that’s tempered by the fact that there were fewer sales…

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November 28, 2017

September 2017 Housing Market

The existing home sales narrative remains the same: Lack of inventory is the dominant market factor.  While it’s true that September sales rose slightly compared to the previous month, they were still lower than they were a year earlier.  Median prices rose yet again, extending the streak of year-over-year price increases.  Homes continued to sell…

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October 24, 2017

August 2017 Housing Market: Sales Drop (Again), Prices Rise (Again)

Once again, lack of inventory was the story for existing home sales. August’s sales pace dropped to the lowest in 12 months, while median prices rose, extending the streak of year-over-year price increases.  Homes continued to sell quickly, with median days on the market staying steady.  The sellers’ market shows no sign of slowing. August…

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September 25, 2017

July 2017 Housing Market: Sales Pace Slows, Prices Rise

Lack of inventory has been the dominant feature of the existing home sales market this year, and July was no exception. July’s sales pace dropped to the lowest this year, while median prices rose, extending the streak of year-over-year increases.  Homes are still selling quickly, although the median days on the market rose slightly.  The…

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August 25, 2017

June Housing Market: Low Inventory Slows Sales

May’s hot sales pace slowed in June as lack of inventory continued to plague the market. Median prices rose yet again, extending the streak of all-time highs, and while days on the market rose slightly, they were still below 30.  This market continues to favor sellers. June existing home sales dropped by 1.8 percent compared…

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July 25, 2017
We have closed on 2 other houses in NJ and these loans were with renowned well established banks; however First Choice exceeded every expectation through out the loan process. The team is knowledgeable, provided personal service (not answering to a robot). They were on top of things and helped secure a loan in record time. -Ashwini D. | Marlboro, NJ | 1.24.2018
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