Friday, January 05, 2007

Report from Cape May

CAPE MAY COURT HOUSE — Nearly 30 percent fewer properties were bought and sold in Cape May County last year compared with 2005, confirming a definite cooling in a previously hot housing market.

More than 8,300 properties changed hands in 2006, a dip of about 3,500 from the previous year.

“The market has made an adjustment,” said Cape May County Clerk Rita Marie Fulginiti, whose office released the annual totals Thursday. “Our business reflects the ebb and flow of the real estate market.”

In Cape May County, the housing market is dominated by people who do not live in the county full time.

Full article...


Blogger Mr Pyane said...

As I have been telling anybody that will listen the bottom has been hit and we now see a bounce...looks like a orderly adjustment not a popped bubble after all....,0,295847.story?coll=bal-realestate-headlines-1

Saturday, January 06, 2007 6:09:00 AM  

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