North Jersey home prices were flat in the second quarter, compared with a year earlier, the National Association of Realtors reported Wednesday. But a number of local real estate agents say they believe prices are declining.
According to the NAR, single-family homes in the New York metropolitan area, which includes North Jersey, sold for a median $448,700 in the second quarter of 2011, up 1.2 percent from a year earlier. At the same time, however, the number of house and condo sales in New Jersey fell 23.9 percent from the second quarter of 2010, when the market was pumped up by an $8,000 federal tax credit for first-time home buyers. Read more in NJReport.com