We were initially confused by the conflicting reports in the last week about national trends in the residential real estate market.  Two reputable sources, The National Association of Realtors (NAR) and the S&P/Case-Shiller Home Price Indices appeared to report conflicting information.  A closer look at what each group is reporting reveals the reason for the conflict.  Ultimately, what really  matters to you as a homeowner or buyer is not what is going on nationally, but instead, what’s going on in your local market.
We have started reporting on these statistics weekly as they pertain to Tewksbury Township, but if you’d like additional information pertaining to Tewksbury or towns in the Somerset Hills area (Bedminster, Bernardsville, Far Hills, Peapack-Gladstone, Basking Ridge) and beyond (Mendham, Chester, Long Valley), let us know and we can share with you our own data as well as data from third-party sources and interpret this data for you as it pertains to your particular real estate situation.