Manhattan Contracts Plummet 

by | Jun 5, 2020 | Uncategorized

The Wuhan pandemic, which made Manhattan an epicenter of the virus, had a catastrophic impact upon the number of real estate contracts signed in May. For the month,  there were just 160 signed, which compares with 992 signed in May of 2019. This represents an 84% drop...

CoreLogic Reports Jump in April Home Prices

by | Jun 3, 2020 | Uncategorized

CoreLogic reported that whole prices on a national basis increased 5.4% in April year-over-year. The price increase is considered to be again the combination of a number of factors: the extreme crisis in inventory shortages, low mortgage rates and finally pent-up...

Morris and Middlesex April Sales

by | Jun 2, 2020 | Uncategorized

Morris County Single Family Homes for April Key Metrics   2019   2020   Change New Listings  913     657    – 28.0% Closed Sales 329     309     +  1.4% DOM*              71       72     + 1.4% Median PX $411K  $445K  + 8.1% % of PX      97.1%  97.6%  + 0.5%...

Mortgage Applications Surge

by | Jun 1, 2020 | Uncategorized

Home buyers are reflecting an invasion of interest in buying homes based upon the spike in new purchase mortgages. This reflects a 54% spike in mortgage applications since early April. The number of refinance applications showed little change, but reflected a...