The median list price in LONG BRANCH, NJ 07740 this week is
Inventory has been lightening lately and the Market Action Index
has been trending up. Though days-on-market is increasing, these
are mildly positive indications for the market.
SUPPLY AND DEMAND
Home sales have been exceeding new inventory for several weeks.
However because of excess inventory, prices have not yet stopped
falling. Should the sales trend continue, expect prices to level off
soon and potentially to resume their climb from there. Watch prices
as the market transitions from a Buyer's market to a Seller's market.
Again this week in LONG BRANCH we see a downward notch for
prices. Pricing has been weak in recent weeks and versus their
absolute-high level. At this point, we will be looking for a
persistent upward shift in the Market Action Index as a leading
indicator for a trough in prices.
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