As of May 1st, 2010 the inventory of homes for sale is lower than at any point since 2006. That’s good news for home sellers!  Although we’re still in a buyers market, fewer homes for sale equals less competition. 

As the graph on home sales in Hunterdon County (below) shows, sales started more slowly this year than in the past but, thanks in part to the stimulus tax credits, have now surged to a higher level in April 2010 than anytime since 2005.  Now that the tax credit has ended, what will happen to home sales?

The green line above shows 2009 sales, which were pumped up by the tax credit last fall, only to drop after the November closing deadline.  Of course, December and January are traditionally months of lower activity in Hunterdon County, NJ.

Unlike 2009, the 2010 tax credit has two deadlines:  (1) to be under contract by the end of April and (2) to close by the end of June.  Although eligibility for the credit has passed, the homes placed under contract during April will close during the next two months.  There will be a continued knock-on effect during what is normally a good time for home sales, the spring, as some move-up buyers shop for their next home.

Given the uncertainty about this fall, the next couple of months may be the best for home sellers, before the market drops off as it tends to do in the autumn.  The news for home sellers may not be this good in the second half of 2010, so now’s a good time to make your move!

CALL ME on my cell: (908) 797-9900 or email me for a Price Analysis of your Hunterdon Home. 
Find out why RE/MAX now sells more homes in New Jersey than any company.  Our long-time competitors are now ranked 2 and 3, not in the number of agents (including part-timeagents) but quite simply in the number of New Jersey home sales!  Soar above the crowd with your RE/MAX agent! 908 797-9900.