If you’re looking to buy, the longer you wait the more it will cost according to the latest numbers:
The price to buy a home in New Jersey Home continued to climb in July, according to CoreLogic, rising by 4.1 percent over last year. The increase includes homes in which homeowners were behind in mortgage payments or in default.
Nationwide, the average home price rose 12.4 percent between July 2012 and July 2013, the monthly report said. Arizona and California led the way, with jumps of 27 percent and 23.2 percent respectively. It marked the 17th consecutive monthly year-over-year increase.
New Jersey’s increase was the 33rd highest in the country.
The trends continue to show that home prices are on the rise. But the story notes prices are still much lower than their mid 2000 highs:
Despite the gains, homes in New Jersey are still more than 23 percent below where they were at the market peak in 2006.
If you’re looking to buy a home, now may be the time because the longer you wait, the more it will cost you. You can check our our tips for homebuyers to help you begin your journey!