Northern NJ Weekly Residential Inventory Update

Posted on January 25, 2006 by grim

Northern New Jersey Residential Inventory (SFH, Condo, Coop)

GSMLS
Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, and Warren Counties
1/18 – 11696
1/25 – 11931 (2% Increase, 8.3% since January 1st)

NJMLS
Bergen, Essex, Hudson, and Passaic Counties
1/18 – 5565
1/25 – 5691 (2.2% Increase)

MLSGuide
Hudson County
1/18 – 1782
1/25 – 1744 (2% Decrease)
(Hudson County listings increased on both GSMLS and NJMLS)

Caveat Emptor,
Grim

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11 Responses to Northern NJ Weekly Residential Inventory Update

  1. landgrab says:
    January 25, 2006 at 3:50 pm

    Grim – Eager to hear your educated guess on when you feel the right time to to buy in North Jersey is.

    And while we’re at it, do you have the dates for all the potential interest hikes by the FED? I believe the 1st one is next week?

    Sad as it sounds, it could have an impact on when I purchase my 30-yr fixed mortgage.

  2. grim says:
    January 25, 2006 at 4:04 pm

    FOMC 2006 Meeting Schedule

    Jan 30/31 – Greenspan’s Last
    Mar 28 – Bernanke’s First
    May 10
    Jun 28/29
    Aug 8
    Sep 20
    Oct 24
    Dec 12

    Not sure I understand what you mean about the timing though.

    grim

  3. Anonymous says:
    January 25, 2006 at 4:09 pm

    Buyers need to put the pacifiers back in and wait.
    i know this tough in a society that promotes leverage spending and getting it now.

  4. chicagofinance says:
    January 25, 2006 at 5:56 pm

    “Not sure I understand what you mean about the timing though.”

    Maybe he works at Fannie Mae =)=)=)

  5. landgrab says:
    January 25, 2006 at 6:50 pm

    Timing … spring? summer? fall? Wait for 07?

    I suppose when people start accepting insanely low-ball offers might be a sign that it’s time to jump in.

    I’m no lowballer, but I do like the idea of grim educating us.

    Everybody enjoy Lost tonight!

    (fannie mae? Please!)

  6. grim says:
    January 26, 2006 at 7:09 am

    We should have a good idea of sentiment and direction by late spring/early summer. It’s just not prudent to even make a decision before then unless you really find something that has value.

    grim

  7. skep-tic says:
    January 26, 2006 at 9:18 am

    2007 should be the earliest anyone here should even think of buying.

    this ball is just starting to roll downhill now. it will take years to erase the run up of the past 5+ yrs.

    I’m thinking more like 2009-10

  8. Anonymous says:
    January 26, 2006 at 1:33 pm

    2007 is the big bang year.

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