July Ocean and Monmouth Single Family Sales

Monmouth County Single Family Homes for July Key Metrics 2020 2021 Change New Listings 1,192 946 – 20.6% Closed Sales 747 708 – 5.2% DOM* 55 29 – 47.3% Median PX $500K $610K + 22.0% % of PX 98.1% 102.8% +...

Cat 4 Hurricane Ida Hits the Gulf

New Orleans in 2021 is a different city than it was back in 2005 when Hurricane Katrina hit. The levee system is three times the capacity than what was in place 16 years ago. Hurricane Ida hit as a Cat 4 storm, but quickly slowed down to ‘only’ a Cat 2...

Housing Demand Continues to Drive Prices

Little change has occurred within the real estate market over the last few months to change buyer demand and seller excitement. Potentially, what might be helpful to the market, in the long-term but not in the short-term, is the falling price in lumber futures. We...

Closed Single-Family Sales Dip

The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend...