The Wall Street Journal ran an article last week declaring that home sale prices for the month of June had reached their highest-ever number with a price of $426,900 for a home in the United States. However, the thrust of the story was focused on the decreased number of sales with four straight declining months. They then termed the usually sizzling hot summer market a “dud!”

In our own little bubble right here in Northern New Jersey this story, on the whole, resonates. Home sale prices did reach their highest number ever, with the exception of a one-off month this past February when virtually no sales were reported, and an artificially high average sale price number prevailed. This certainly falls in line with the national story, albeit things did shift a bit. Sale prices rose despite a slowly increasing number of listings and new homes coming on the market, thus bucking the national trend. Teaneck, Bergenfield and New Milford have seen two straight months where the number of homes on the market remained steady, above 70, for the first time in almost 18 months. The number of new homes coming to market is also higher than we have seen during the same time period.