From the Otteau Group:
Home Sales Continue to Accelerate in May
Home purchase contracts in New Jersey soared for yet another month in May, recording a 23% increase compared to one year ago. Given that the pace of sales rose by 22% in May-2012, purchase demand has expanded by an astounding 51% over the past 2 years. Home sales have experienced a double-digit increase in 4 out of 5 months this year, for a YTD gain of 18%.