Housing market in NJ still slow

MONTCLAIR - New and existing home sales were up slightly in March, but the housing market in New Jersey is still slow.

Harold and Irene Stoller are trying to sell their house in Montclair. They tell News 12 New Jersey that they've had 20-30 people look at their house since it's been on the market, six came back for a second look and two or three offers, but all of them were low.

Economist James Hughes, of Rutgers University, says home prices may keep sliding for two more years, as foreclosed homes continue flooding the market.

According to figures by the Census Bureau, while new home sales were up last month, they were still nearly 22 percent lower than one year ago.

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