Existing home sales rose slightly on a national level lest month, as reported by Realty Times contributor Kenneth Harney.

Though the increase wasn't huge, only around 2.8 percent for single family homes and 3.7 percent for condominiums, the rise could signal a bottoming-out in the overall market.

Though sales dropped severely over the course of last year, we've really always known that the market was still active.

This slow and steady activity is reflected today in our Northeast report, as we turn to local agents to get a sense of how their market is doing.

And looking at New Jersey in particular we learn that some of the most promising areas of that market are condo and townhome properties.

Justin Kiliszek of Morris, New Jersey says that in his area, townhomes are moving faster than any other property, with prices nearing an all-time low.

And Richard Speedie of Hunterdon County, New Jersey, says that though the market in his region is down about 5 percent, condos are still moving without any real drop in price.

That's some good news for all the multi-family property owners in the region.

Moving east a bit, Paul Musko in Pittsburgh, Pennsylvania, says the segment of his market getting the most attention are bankruptcy properties, though all areas of his market are strong.

And that really doesn't come as much of a surprise, as bankruptcies, foreclosures and short sales have been getting a lot of attention in the national media lately.

But as another Pittsburgh agent Ron Murello attests, there are many areas of his city, including Murraysville, Kent Township and Plum Township that are doing just fine.

We'll stay posted and pass on any changes and developments in the Northeast market next week.

Published: April 4, 2008

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