Monday, June 8, 2009

Trenton Times reports on increased home sales in Mercer County

According to the Trenton Times of New Jersey there is a "ray of light for Mercer County home buyers." Citing data from the National Association of Realtors, the article reports that the national index of pending home sales rose 6.7% in April marking the highest increase in eight years.

At home in New Jersey, there was a 23% increase in the sales of new and existing homes in March. In April, there was an increase of 18%. Coming local to Mercer County, home sales climbed 8% continuing a three month increase.

Agents report that these very positive indicators are being spurred on largely by the $8,000 first-time home buyer credit. As potential buyers find out more about the program and learn that they are eligible, they begin to call and make appointments and eventually close sales. With an increased number of people in the starter-home category, the sellers are able to move up to their next home, and the trend continues upward affecting all sellers in a positive way.

Another reason for the increase is affordability. There has definitely been a price adjustment, where sellers take as much as a $20,000 reduction and make it up in the long-term investment of their next home. Such an example can be found with this price reduction just taken today on this home at 719 Woodland Avenue, Burlington, NJ. Previously listed at $299,900, the owners are listening to the market. They have reduced the asking price to $279,900 and ready for your offer.

With more people entering the market, new home buyers can't wait. It's time to get serious about your home shopping today. Please give me a call at 609-658-2612 so we can check out the homes in Mercer County and the surrounding areas today.

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