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NJ Lowers the Number of Lead Poisoning Cases

According to a story on NJ.com, "Eleven cities in New Jersey, and two counties, have a higher proportion of young children with dangerous lead levels than Flint, Mich., does, according to New Jersey and Michigan statistics cited by a community advocacy group."

Black Knight Home Affordability Report

Black Knight Home Affordability Report

With the right economic conditions, in two years, home affordability could get close to the same level seen before the financial crisis, making it difficult for people to afford a home.
A recent report from Black Knight Financial Services issued at the end of December 2015 points to the statistic that home prices have increased year-over-year for 43 consecutive months.
Though when there is a pause in any economic trend, pundits are quick to throw out the red flags of warning, this unbroken movement has experts wondering, how far can it go?

December Pending Home Sales Stay the Course

The National Association of Realtors® reported that December pending home sales moved up very slightly nationally, by one-tenth of a percent, but still reflected a positive trend as it closed out 2015.

This reflects 16 consecutive improvements dating back to 2014.

It was the surging Northeast which carried the day statistically, which compensated for the declines in the other three major regions.

The Pending Home Sales Index increased in December by 0.1% to 106.8, reflecting a 4.2% improvement over December 2014, which was reported at 102.5. T

Other Stats

NJ Association Gives Upbeat Report

2015 Jobs Stats Show Economic Improvement for NJ

The New Jersey Business & Industry Association released a report stating that New Jersey had added approximately 64,500 private-sector jobs in 2015.

The report points to:
■ New Jersey’s private sector accelerating employment environment
■ A more confident economic environment
■ That in NJ, 2015 was the strongest year for private-sector job growth in the last 15 years
■ Continuing its uninterrupted growth stemming back to 2010
■ Bureau of Labor and Statistics reported New Jersey’s unemployment rate at 5.1%

2016 Looking Good For Jersey Shore

According to all the estimates, the Jersey Shore real estate market is emerging back into a state of good health. A most recent report came from the Asbury Park Press, which reported that median sale price in Monmouth County is up 2.9% for 2015 and up 4.3% for Ocean County for the same period.

As New Jersey climbs back, it is improving on a number of fronts: a growing job market in 2015, lower unemployment, and its proximity to the pricey New York City real estate market by offering a bigger bang for the rental and purchasing buck.

2016 Looking Good For Shore

According to all the estimates, the Jersey Shore real estate market is emerging back into a state of good health. A most recent report came from the Asbury Park Press, which reported that median sale price in Monmouth County is up 2.9% for 2015 and up 4.3% for Ocean County for the same period.

As New Jersey climbs back, it is improving on a number of fronts: a growing job market in 2015, lower unemployment, and its proximity to the pricey New York City real estate market by offering a bigger bang for the rental and purchasing buck.

Beginning 2016 With a Fresh Look

One of the most powerful tools is the business card. A business card is often more powerful than even a website, because it acts as a custom road map to any new contact that you meet, complete with information on who you are, what you provide for clients, even how long you have been in business. It also increases its impact based upon the circumstances wheen the exchange is made.

Mortgage Applications Continue to Increase Nationwide

The number of mortgage applications continued in its upward trajectory according to the Mortgage Bankers Association [MBA] which reported an increase of 8.8% in applications for the week ended January 22.

■ The MBA refinance index increased 11% from the prior week.
■ The percentage of refinance applications decreased slightly by a tenth of a percentage to 59% of the total number of applications.
■ The adjustable-rate mortgage share of the mortgage applications increased to 6.9% of total applications.

New Jersey December Stats Stay Strong

On a comparative basis, December 2015 was healthier than December 2014.
In most categories, trends moved higher, according to metrics reported by New Jersey Realtors.

"In 2015, national residential real estate, by and large, had a good year. Supply and demand were healthy in an environment rife with low interest rates and improved employment."

Continuing low inventory and good mortgage rates, along with an improving economic climate, is making this still a sellers market.

New Jersey Housing 2015 Market Is Healthy

According to the New Jersey Realtors Association, 2015 was overall a good year for the Jersey housing market.

View the YouTube of this report by clicking this link: https://youtu.be/PfShsxM7WDc

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.