May Sales for Morris & Middlesex Counties

Morris and Middlesex Counties Morris County Single Family Homes for May Key Metrics       2022       2023     Change New Listings       724        494     – 31.8% Closed Sales      383        305     – 20.4% DOM*              24          32     + 33.3% Median PX     ...

May Sales for Monmouth & Ocean Counties

Monmouth County Single Family Homes for May Key Metrics       2022       2023      Change New Listings     940         698       – 25.7% Closed Sales      545         439       – 19.4% DOM*               27          39        + 44.4% Median PX        $650K    $650K   ...

Only 5,000 Existing Single-Family Homes Sold in May

Existing-home sales slid for the second consecutive month, falling 3.4% nationwide as of last measure, according to the National Association of REALTORS® (NAR), as higher interest rates continue to impact buyer affordability. Sales are down 23% compared to the same...

Housing Inventory Slumps 39% Year-Over-Year

  According to the National Association of Realtors, the number of U.S. homes listed for sale saw the largest decline in 13 months, primarily due to the increase in mortgage rates, the inability of builders to supply demand and the overall cost of the average...

May Existing Sales Improve – Slightly

Existing Home Sales and Inventory Climbs Unsold existing homes inventory climbed finally by 3.8%,reaching 1.08 million at the end of May, up from April. The total existing-home sales also rose 0.2% from April. As expected, year-over-year, sales dropped 20.4%. The...