The three most prominent national market trends for residential real estate are:

       * The ongoing lack of abundant inventory

    * The steadily upward movement of home prices

       * Year-over-year declines in home sales.

Sales declines are a natural result of there being fewer homes for sale, but higher prices often indicate higher demand leading to competitive bidding and/or multiple offer situations for the available competitively priced homes.

Markets are expected to increase supply, so there is hope that sellers will get motivated to sale to take advantage of what appears to be a ready and willing buyer base.

These Stats are representative of many markets through-out New Jersey.