The spring real estate market in the Princeton area this year has been a busy one.? Tim Mclaughlin of Weichert Financial services describes it as follows, ?Demand for new U.S. homes rose more than forecast in April, indicating residential real estate may contribute to economic growth for the first time in seven years. Purchases rose to a 343,000 annual rate, up 3.3 percent from a revised 332,000 in March, the Commerce Department reported Thursday in Washington. The median forecast in a Bloomberg News survey of 72 economists was 335,000. Data yesterday showed April sales of previously owned homes rose in every region.?It?s very clear now that the housing market has turned a corner,? said Richard DeKaser, deputy chief economist at Parthenon Group LLC, who projected sales would increase to a 339,000 pace. ?The only question is how strong the rebound is going to be. It bodes well for the broader economy.?Job growth, improving affordability and record-low interest rates are helping propel sales of both existing and new homes?
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?The chart above reinforces this data. It shows the year over year data for the New Jersey real estate market.? If you want to test out the waters in the Princeton area real estate market click on the links below and start searching. Give me a call for more details.
?Click here to search Homes For Sale in Princeton
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