Now that we are a month into 2008, experts have begun to speculate on how the real estate market will fare for the year ahead.  A continuation of soft market conditions is forecast for existing-home sales in the months ahead, with improvement expected by the second half of this year if loan limits are increased, according to the latest forecast by the National Association of Realtors®. 

Lawrence Yun, NAR chief economist, said sales activity is expected to remain soft through the first half of the year despite a generational low in mortgage interest rates.  “Existing home sales have moved narrowly since last September, but when the full impact of higher loan limits for conventional mortgages begins to impact the market there is likely to be a notable rise in home sales and prices,” he said.

It is still a great time to consider buying or selling a home in Bergen County NJ.  To begin searching for Bergen County NJ real estate, please use my complimentary MLS search.  Or, if you are considering selling your home, request a complimentary market value analysis of your home.  For more personalized service, please call me at 201-930-3070.