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NJ Real Estate News

New Jersey Real Estate Prices Stablize

Although prices are down, the number of sales rose during the quarter, boosted by the first-time buyers’ tax credit.

Sales of condos, coops and single-family homes rose 5.9 percent nationwide, to an annual rate of 5.3 million.

In New Jersey, the number of sales rose 8.5 percent, to an annual rate of 122,800. Both rates are still well below the 180,000-plus clocked during the peak of the housing boom in 2004-2005