Real Estate Cools at the Shore
[While home prices still are rising, the Jersey Shore real estate market is showing signs of cooling off.
The median sale price for an existing home in the region that includes Monmouth and Ocean counties was $374,100 in the first quarter of 2006, up 9 percent from $343,100 in the first quarter of 2005, according to the National Association of Realtors. That means that half the homes in the area sold for more and half sold for less.
Although a 9 percent increase more than a year ago is still well above the overall rate of inflation, it is down from the double-digit increases that characterized the market over the past several years.
"Clearly, the glory days of the housing market are now history," said James W. Hughes, an economist and dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University.]
posted by Little_Silvered at 6:41 AM
2 Comments:
Anyone that missed out on the housing bubble now you can trade a ETF,whether you are on the side that believes there is a bubble and it is going to burst or on the side that believes the market will continue on, now exchange traded funds(ETF) gives you an opportunity to play both sides of the housing market.Or if your a home seller that thinks the market is about to burst ,you can lock in a profit (buy shorting )now .These exchange traded funds offer an example of how an investor can use the short option or go long; depending on how they believe the market is moving.
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