NJ: Hopes Dashed for Real Estate Market Recovery

In the last three months, the housing market in New Jersey was slowly starting to stabilize — at least, in the sense things had stopped getting worse.

After tumultuous years that included a double-dip in home prices nationwide, median sale prices for the second quarter this year ranged from rising 5.6 percent in the Atlantic City region to falling 5.1 percent in the Edison area, compared with last year, according to the National Association of Realtors.

But then, within the last two weeks, whatever hope industry leaders had for the market’s stabilization came crashing down.

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Full Story from NJ.com

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