Friday, August 6, 2010

Absorption Rate Dips Again This Week for Hoboken and Downtown Jersey City-August 6, 2010

Another week of absorption rate increases for Hoboken and downtown Jersey City. The market does typically slow down during August as buyers go on vacation. I didn't think the slowdown would be as strong as it is, especially with mortgage rates being so incredibly low!

Hoboken Absorption Rate Update 8/6/2010:

46.26 weeks vs. 41.87 weeks last week (10.48% increase)

Downtown Jersey City Absorption Rate Update 8/6/2010:

54.6 weeks vs. 50.46 weeks last week (8.2% increase)

Information provided by:

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

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