Bradley Beach NJ Real Estate Forecast

On the heels of yet another interest rate cut from the Fed, the National Association of Realtors is expecting the volume of Bradley Beach NJ real estate sales of existing homes to hold steady through late spring, with a gradual recovery during the second half of the year as the mortgage situation improves in high-cost areas.

The federal funds rate was cut by another ¾ of a percentage point last week, bringing the rate to 2.25% – the lowest it has been since 2004.  This move also marks the second of back-to-back cuts of ¾ of a percentage point. 

Along with lower interest rates, Lawrence Yun, NAR chief economist, said many buyers have been waiting for higher mortgage loan limits.  “The higher loan limits for both FHA and conventional loans will increase consumer choice and provide greater access to lower interest rate mortgages in high-cost regions,” he said.  “Therefore, a notable rise in home sales can be anticipated in the second half of the year.” 

To get the latest market activity and statistics for Bradley Beach NJ real estate, please call me at 732-775-2774.  You may also visit PatrickParkerHomes.com and begin searching for Bradley Beach NJ real estate here!

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About Patrick Parker Realty

Patrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach is your local market leader. We understand the demands of a changing real estate market and avail ourselves of the latest industry information and tools to ensure excellent results. Our Commitment to You Our seasoned Real Estate Agents are committed to providing all of our clients, from first time sellers to veteran real estate investors, quality and friendly service. We walk you through every step of the sale process offering the guidance, feedback, and expertise needed to ensure your complete satisfaction.
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