Eastern Monmouth MLS at 4116
At this time last year there were 3509 homes on the Eastern Monmouth MLS.
Inventories hit a record 4772 in September of 2006.
Inventories hit a record 4772 in September of 2006.
posted by Little_Silvered at 7:23 PM
20 Comments:
great article in the sunday, 4/1 ny times real estate section on how hard it is now, even for people who fall under the title "prime borrowers" to get a mortgage.
njcoast provided us with some great information in an earlier post regarding sales by municpality in Monmouth county in February. Is any such information available for March?
hi nj coast. thanks always for the info. okay, of course i'm going to request belmar - if you got it.
Thank you njcost. Do you have the stats on Marlboro?
Hey our favorite Rumson house that we have been following is back on the MLS. Original list price in April 2005-$939,000. Current list price-$679,000.
dear nj coast, exuse my ignorance but does "currently active" at the bottom of the statistical lists mean - homes that are currently for sale? please let me know and thanks!
This from my investment manager this week. Knowledge is power.
Leading Indicators Point to a Growing Economy
Over the Next Year
The economy will continue to grow in 2007 at a moderate pace, according to the leading indicators we track. Our 8 leading indicators show a mix of signs:
Above-Average Growth Will Occur: 1) ECRI's Leading Economic Indicator Index, and 2) Corporate Profits
Average Growth Will Occur: 1) Manpower's Net Employment Outlook, 2) 12-month Stock Market Returns, and 3) Institute of Supply Managers Index (an indicator of purchasing activity by companies)
Below-Average Growth Will Occur: 1) Conference Board's Leading Economic Indicator Index, 2) Yield Curve, and 3) Crude Oil prices
While some have mentioned the possibility of a recession, it isn't generally showing up in the leading indicators. Continued economic growth will be the key to a housing recovery.
Economic Growth.............................................................................C
The U.S. economy continues to expand at a moderate pace. Real GDP increased at an annual rate of 2.5% in the fourth quarter of 2006, according to final estimates. In addition, employers added more workers than forecast in March, and the unemployment rate now stands at a five-year low. As such, many top-tier investment banks adjusted their Fed rate-cut forecasts to later in the year. Year-over-year retail sales and personal income growth rose during the month, while core CPI remained flat.
Leading Indicators...........................................................................C-
In March, the yield curve reversed its inverted status for the first time since July 2006. Interest rates decreased across the board, with the 10-year Treasury rate 6 basis points higher than the 2-year rate. All of the major U.S. stock indices regained some of the losses experienced in February, but continue to decline year-over-year. Corporate profits decreased $4.9 billion in the fourth quarter of 2006, versus an increase of $61.5 billion in the third quarter. Subprime worries and a lackluster start to the Spring selling season are reflected in the S&P Super Homebuilding Index, which dropped for the second consecutive month in March, and is now 32% below its year-ago value. Oil prices spiked again in March, driven by geopolitical tension surrounding Iran's seizure of British military personnel.
Mortgage Rates.................................................................................B
For the sixth straight meeting, the FOMC held the fed funds rate at 5.25%. The 30-year fixed mortgage rate declined to 6.16% in March, while one-year adjustable rates also dropped to 5.43%. Adjustable-rate loans continue to decrease as a percentage of total loans, with ARMs falling to 20.2% of total loan activity in the last week of March. Consumer delinquencies combined with subprime lender bankruptcies continue to keep the ABX index very low.
Consumer Behavior..........................................................................C+
All of the major gauges of consumer confidence fell in March, with the Consumer Confidence Index declining to 107.2, the lowest level since November 2006. The consumer's perception of the overall economy is likely being influenced by higher gasoline prices, recent stock market volatility and declining home prices.
Existing Home Market.......................................................................C+
Existing home sales increased unexpectedly to 6.69 million annualized units in February. On the down side, inventory levels, a vital indicator in today's oversupplied market, rose to 6.7 months. Prices increased sequentially, but remain 1.5% below year ago levels. The Pending Home Sales Index increased in February, though it remains well below the peak levels witnessed in 2005.
New Home Market............................................................................C-
In February, new home sales declined 18% year-over-year to an annual rate of 848,000, the lowest monthly pace of sales since August 2000. With the decline in sales has come a subsequent uptick in months of supply, currently at 8.1, which is the highest level since January 1991.
Housing Supply................................................................................D+
Housing starts increased to a seasonally adjusted annual rate of 1.52 million in February. While this represents a 9% increase from a low January figure, it is a 28% year-over-year decline. Building permits, which are a leading indicator for housing, declined 2% sequentially in February, and are down 29% year-over-year to a seasonally adjusted annual rate of 1.53 million.
Data Library
and Forecast:
Includes Historical Data and Forecasts
For more information or to purchase, click here
U.S. HOUSING MARKET STATISTICS
Data Current Through March 31, 2007
Grade*
Overall Grade C
Statistic Grade*
Economic Growth C
These are the best indicators of how the economy is currently performing.
Real GDP (annual rate) 2.5% C
Employment Growth (1-year Change)
- Non-ag Payroll, NSA 1,974,000 C
Employment Growth Rate
- Non-ag Payroll, NSA 1.5% C
Unemployment Rate 4.4% B-
Productivity 1.6% C
Retail Sales 3.2% D+
Inflation (core CPI) 2.7% B
Personal Income Growth, nominal 5.3% D+
Federal Deficit (last 12 mos., $mil curr.) -$193,525 C
Statistic Grade*
Leading Indicators C-
These have all proven to be predictable early indicators of the direction of economic growth.
Leading Indicators Annual Growth Rate over Last Six Months
Leading Econ. Index 0.4% C
ECRI Leading Index 3.3% C
Manpower Net Employment Outlook 18% C
Corporate Profits (pre-tax) 18.3% C+
Interest Rate Spread
10-year Treasury 4.63%
2-year Treasury 4.57%
Interest Rate Spread 0.06% C-
Stock Market (Return over last 12 months)
Dow Jones 11% C
S&P 500 10% C
NASDAQ 3% C
Wilshire 5000 10% C
S&P Super Homebuilding -32% F
Crude Oil Price (Current $) $60.56 D
Inst. of Supply Managers Index 50.9 C
Statistic Grade*
Mortgage Rates B
These statistics are probably the most important indicators of short-term housing market performance.
Conforming Mortgage Rates (contract rate; an additional 0.6 - 1.0 points are also paid up front by the borrower)
Mortgage Rates, fixed 6.16% A-
Mortgage Rates, adjustable 5.43% B-
Fixed/Adjustable Spread 0.73% F
Fixed/10-year Spread 1.53% C
Fed Funds Rate 5.25%
Percentage of Adjust. Loans 20.2% C
Subprime Index (ABX.HE.BBB-.06-02) 70.1 F
Statistic Grade*
Consumer Behavior C+
Consumer attitudes correlate well with short-term housing sales performance. Consumer income growth, debt levels and job prospects affect the long-term outlook for housing sales.
Consumer Confidence Index 107.2 C+
Consumer Sentiment Index 88.4 C
Consumer Comfort Index -1.5 C+
Equity/Owned Home (2003$) $144,466 A+
Median Household Income $46,326
- Growth Rate, nominal 4.5% C
Revolving Cons. Credit per Household $7,592
- Growth Rate 5.8% B
Statistic Grade*
Existing Home Market C+
Sales volumes correlate well with the Housing Cycle calculations, and boost the trade up New Home sales market.
NAR Single-Family Median Home Price $211,100 A
NAR Single-Family Annual Price Appreciation -1.5% F
Freddie Mac Annual Price Appreciation 6.1% C
Annual Sales Volume, SA 6,690,000 A
Months Supply of Unsold Homes, SA 6.7 C
Purchase Mort. App. Index, SA 411.1 B
Pending Home Sales Index, SA 109.3 C
Homeownership Rate 68.9% A+
Statistic Grade*
New Home Market C-
High appreciation and low inventory would mean an excellent short-term outlook for the new home industry.
Housing Market Index 36 D
Median Price, NSA $250,000 A+
Annual Appreciation Rate -0.3% D+
Sales Volume, SA 848,000 C+
Months Supply of Unsold Homes, SA 8.1 D+
Months of Homes Completed, SA 2.5 D+
Months of Homes Under Const., SA 3.9 C-
Months of Homes Not Started, SA 1.2 D+
Statistic Grade*
Housing Supply D+
High construction levels are good for the economy. However, if new supply exceeds demand, prices could fall.
Housing Starts, SA 1,525,000 C
Single-family Permits, SA 1,089,000 C+
Multifamily Permits, SA 443,000 C-
Total Permits, SA 1,532,000 C
Manuf. Housing Placements, SA 81,000 F
Total Supply, SA 1,613,000 C-
Eastern Monmouth MLS 4306 today..
Climbing rapidly.
I don't believe that the spring selling season ever materialized.
Eastern Monmouth MLS 4364 on April 30.
5% gain in one month.
hi, you've got great posts in your site. gotta give you credit for that. found me some articles too in your site i think are worth bookmarking, thanks. keep it up.
jay
board and batten
There isn’t one day that passes that you don’t see bad financial news in the newspaper or on the television or radio. Well that’s all going to change now, especially if you live in the New Jersey Shore towns of Avon, Belmar, Spring Lake, Sea Girt, Manasquan, Point Pleasant, Bay Head, Mantoloking, Normandy Beach, Chadwick, Lavalette, Ortley Beach, or Seaside Park. According to Paul R Hauke, a Realtor Associate with Prudential Zack Shore Properties with 11 offices along the Jersey Shore, a specialist in Ocean Front, Waterfront and Resort Properties along the New Jersey Shore prices are holding steady and in many areas increasing. The reason is that people are buying along the Jersey Shore and the demand is strong. For instance many buyers who have large amounts of cash sitting in bank accounts that are earning very, very low interest have been buying Jersey Shore Resort Homes for cash. They are figuring on getting the rental money and the appreciation on the property. They figure the return will absolutely beat whatever they are earning in the bank and they also have the use of the property when not rented. Smart buyers.
On the other hand are the sellers. Sellers in such great Jersey Shore towns are reaping the benefits. There prices have been holding and they are reaping the gains. There are properties from the mid $200,000.00 range up to multi millions. Along the price range there are new and converted condos and new and completely renovated houses and of course one of a kind mansions and estates.
On the waterfront at the Jersey Shore prices are still climbing. Paul R Hauke, a Realtor Associate with Pruzack, studies and tracks the real estate values along the Jersey Shore and has found that Waterfront properties prices have been escalating. Properties with docks for boats and easy access to the Bays and Ocean are still high on demand. Small homes in such areas as Ocean Beach , with docks , can still be had for $300,000.00 to $400,000.00 with a moderately priced waterfront home with deep water docks and easy fishing access still bringing $1,000,000.00 plus. In towns like Point Pleasant Boro. Ocean front homes, both on the beach and across the street from the beaches, in such towns as Spring Lake, Sea Girt, Bay Head, and Mantoloking bring three, four and five million.
Many Jersey Shore Real Estate buyers are looking for second homes now that they can make year round homes later. Such houses between $900,000.00 and $2,000,000.00 have seen a 25 % increase in pricing. Some Jersey Shore Realtors have reported their sales up as much as 26% over last year.
Whatever your desire the Jersey Shore offers great Real Estate and great family memories and great pricing. There never has been a better time to buy and invest in real estate at the Jersey Shore.
To view properties for sale at the Jersey Shore from Atlantic Highlands to Long Beach Island go to www.asburyparklife.com/jerseyshorerealestate.html , the # 1 source for activities, events, and real estate along the Jersey Shore.
There isn’t one day that passes that you don’t see bad financial news in the newspaper or on the television or radio. Well that’s all going to change now, especially if you live in the New Jersey Shore towns of Avon, Belmar, Spring Lake, Sea Girt, Manasquan, Point Pleasant, Bay Head, Mantoloking, Normandy Beach, Chadwick, Lavalette, Ortley Beach, or Seaside Park. According to Paul R Hauke, a Realtor Associate with Prudential Zack Shore Properties with 11 offices along the Jersey Shore, a specialist in Ocean Front, Waterfront and Resort Properties along the New Jersey Shore prices are holding steady and in many areas increasing. The reason is that people are buying along the Jersey Shore and the demand is strong. For instance many buyers who have large amounts of cash sitting in bank accounts that are earning very, very low interest have been buying Jersey Shore Resort Homes for cash. They are figuring on getting the rental money and the appreciation on the property. They figure the return will absolutely beat whatever they are earning in the bank and they also have the use of the property when not rented. Smart buyers.
On the other hand are the sellers. Sellers in such great Jersey Shore towns are reaping the benefits. There prices have been holding and they are reaping the gains. There are properties from the mid $200,000.00 range up to multi millions. Along the price range there are new and converted condos and new and completely renovated houses and of course one of a kind mansions and estates.
On the waterfront at the Jersey Shore prices are still climbing. Paul R Hauke, a Realtor Associate with Pruzack, studies and tracks the real estate values along the Jersey Shore and has found that Waterfront properties prices have been escalating. Properties with docks for boats and easy access to the Bays and Ocean are still high on demand. Small homes in such areas as Ocean Beach , with docks , can still be had for $300,000.00 to $400,000.00 with a moderately priced waterfront home with deep water docks and easy fishing access still bringing $1,000,000.00 plus. In towns like Point Pleasant Boro. Ocean front homes, both on the beach and across the street from the beaches, in such towns as Spring Lake, Sea Girt, Bay Head, and Mantoloking bring three, four and five million.
Many Jersey Shore Real Estate buyers are looking for second homes now that they can make year round homes later. Such houses between $900,000.00 and $2,000,000.00 have seen a 25 % increase in pricing. Some Jersey Shore Realtors have reported their sales up as much as 26% over last year.
Whatever your desire the Jersey Shore offers great Real Estate and great family memories and great pricing. There never has been a better time to buy and invest in real estate at the Jersey Shore.
T o view properties for sale at the Jersey Shore from Atlantic Highlands to Long Beach Island go to www.asburyparklife.com/jerseyshorerealestate.html , the # 1 source for activities, events, and real estate along the Jersey Shore.
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