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You are here: Home / Westfield New Jersey Real Estate / May 2018 Market Update

May 2018 Market Update

May 21, 2018 by Scott Gleason

What’s SALT got to do with it?

In the March Update, I mentioned Jeffery Otteau’s seminar, in which he ran scenarios for a wide variety of marital status/Income/purchase price scenarios; and in the vast majority of cases, the overall tax changes made it a little better or breakeven for home buyers.  The March snapshot comparison to 2017 showed an improving market.  I promised a May update, and here it is below.  Some of our markets are red hot, some have cooled negligibly.  In a number of towns, we might see explosive sales volume except for lack of homes to buy.  A few towns are getting over-supplied.

The real story is rates.

They are still “historically low” as industry cheerleaders love to say. But no longer historically “low-low-low.”  In the second chart you will see how the recent rate increases affect affordability and change the matchmaking of buyers and homes.

Our next deep-dive will be in August or September, by which time we should have an idea how rates have affected market temps.

Market Update

Market Update 2

Curious about your home’s value?

Please click below for the market update of interest to you:

Chatham

Cranford

Fanwood

Millburn-Short Hills

Mountainside

Scotch Plains

Summit

Westfield by Grade School:

Franklin

Jefferson

McKinley

Tamaques

Washington

Wilson

Scott Gleason scott@luxuryhomesnj.com

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Filed Under: Westfield New Jersey Real Estate

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Meet Scott Gleason - Westfield NJ Real Estate

Scott Gleason

Luxury Homes for Sale in Westfield, New Jersey

Coldwell Banker Realty - East

Westfield Area Luxury Homes

209 Central Avenue
Westfield, NJ 07090
908-233-5555 Office
908-698-2630 Mobile/Direct
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Scott Gleason

Coldwell Banker - East

Luxury Homes for Sale

in Westfield, New Jersey

908-233-5555 Office
908-698-2630 Mobile/Direct

Send an Email to Scott

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