Bergen County Realtors….. Market Becoming More Balanced…Is It Becoming A Sellers Market…?

Is The Market Becoming A Sellers Market?

Recent sales activity in towns such as Tenafly, Demarest  & in Bergen County in general… shows that  sellers are less willing to make price concessions then they were months before.  ” When homes are priced to today’s market conditions we are witnessing cases of multiple offers …and, buyers that  lose deals again and again due to offers being too low….” . The local trend is also supported by national figures as released by the National Association of Realtors ( click on the photo for the video)

The months’ supply of existing homes for sale remains well below the July 2010 cyclical peak of 12.4 which had been the highest level since 1982. Inventories as tracked by theNAR are 20.3 percent below their year ago level….in the Northeast sales were up19.2 percent over April 2011……

Existing-home sales rose to 4.62 million (seasonally adjusted annualized rate) in April from a downwardly revised March rate of 4.47 million, the National Association of Realtors (NAR) reported Tuesday. Economists had forecast the April sales pace would be 4.66 million…..

The 10.0 percent yearly gain in the sales rate was the strongest since October when sales were up 14.0 percent year-over-year…..Read The full article on www.dsnews.com