Friday, June 25, 2010

Absorption Rate Decreases This Week-Things Are Still Looking Good-June 25, 2010

Inventories decreased this week for Hoboken and Downtown Jersey City. With inventories at reasonable levels and mortgage rates at historic lows it will be interesting to see if this trend continues once the effects of the tax credit has passed.

Hoboken Absorption Rate Update 6/25/2010:

23.44 weeks vs. 25.24 weeks last week (7.2% decrease)

Downtown Jersey City Absorption Rate Update 6/25/2010:

43.13 weeks vs. 46.88 weeks last week (8% decrease)

Information provided by:

Kevin Dowd
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957

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