A recent report shows improvement in Passaic County, NJ real estate and across the country.  The well known S&P/Case-Schiller index shows that the 10 city index and the 20 city index a marked improvement in real estate in the majority of cities that it tracks.  What the reports displays are small improvements or minimal devaluation in home values.  Home values are up anywhere from .1% to 3.4% in ten cities. In other areas real estate values have remained flat and in harder hit areas home values are decreasing at significantly lower rates.

While the news is certainly not staggering it is encouraging because it indicates that Passaic County, NJ real estate is leveling out.  Home values are falling less sharply and people are being drawn back into the Passaic County real estate market.  It is no surprise what is stimulating the market.  Low home values, low interest rates and the First Time Home Buyer Tax Credit have combined to create an ideal buyer’s market.

For more information on the latest info click here for a report from Yahoo real estate.

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