NJ July 2020 NJ Monthly Stats

While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but...

Existing Home Sales Skyrocket by 25%

July home sales surged by 24.72% year-over-year. Obviously the Chinese virus, resulting in the worldwide pandemic, held back much of the classic and traditional spring home buying season, squeezing a riot of home buyers into the market, driving transactions and higher...

NYC’s Lock-down Devastating to Real Estate Sales

The pandemic has not only hit New York City businesses hard but it is significantly impacting the real estate market. According to Mansion Global, New York City home sales fell by 50% in July on a year-to-year basis. The pandemic seems to be having more than just a...

Median Price Jumps Nearly 10 Percent

The National Association of Realtors reported significant strength for the national housing for the week of August 8th, 2020. Median listing prices grew at 9.9 percent over last year, another tick up in the pace of increase. Home asking price growth continues to...

July Housing Starts Surge

Not to anyone’s surprise, but the Commerce Department reported that housing starts surged by 22.6%. This represents the largest increase in nearly four years dating back to October 2016. Housing starts came in at 1.496 million units in July, which was revised...