The nationwide housing market is improving, alongside an uptick in the economy and lower mortgage and unemployment rates, but sellers in New Jersey are holding their homes off the market.
The housing recovery, nationally and here in New Jersey, had been slow in building momentum. However, week after week recently, it seems we're getting more positive news.
The housing market continues to show signs of a rebirth from its collapse, but the comeback may need to slow down a bit before there's more trouble than progress.
U.S. home prices rose 9.3 percent in February compared with a year ago, the most in nearly seven years. The gains were driven by a growing number of buyers who bid on a limited supply of homes.
The Standard & Poor's 500 index closed within two points of its all-time high after another strong report on housing encouraged investors to buy stocks.
U.S. sales of previously occupied homes rose in January to the second-highest level in three years, a sign that the housing market is sustaining its recovery and helping bolster the economy.