Our market experts in the Northeast region are reporting this week that their markets are seeing some real gains in this difficult housing climate.

For example Janet and Erin Morrissey of Attleboro, Massachusetts, say there have been 55 sales of single family homes in their area during the last three months.

This compares to 98 single family home sales for the same three month period in 2007, which is a very significant decline of 44 percent.

That is a big drop in sales, and things are similar in other parts of the state.

Faith Chandler of Bridgewater, Massachusetts, says that a wealth of supply in her market is working to keep demand down.

Buyers are taking a long time to see everything available in their market, which means offers are slow in coming on most houses.

And this is resulting in Realtors listing homes at below-market prices, Chandler says, which, of course only keeps prices low.

Finally on to River Vale, New Jersey, where market expert Paula Clark reports that homes are only staying on the market from one to three months.

The market slowdown hasn't affected her area as much, Clark says, and in Northern New Jersey buyers can still find homes with a great deal of value.

That's all for our Northeast Report this week, but be sure to check back often to see how things are going in your market.

Published: May 16, 2008

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