News

Where's the Profit? Recently Zillow announced that it had determined to get out of the iBuying program business model. This resulted in the company taking a significant loss on the homes that it had purchased. It then announced, according to a Wall Street Journal...

Honoring all of our Veterans who have sacrificed so much for Freedom here and around the world. From all of us at Counsellors Title Agency!! Background on Veterans Day Veterans Day is an official United States public holiday, observed annually on November 11, that...

Escrow is a legal financial arrangement which involves a third party who temporarily holds large sums of money or property until conditions and contingencies are met, as in the fulfillment of a purchase agreement for property. The escrow account is fundamentally a...

Market Overview November 2021 People under the age of 44 have been driving the homeownership rate higher; while 45 to 64 year olds have seen homeownership drop. 3Q 2021 realized a strong upward inflection in household formation. The median price of existing home sales...

Friday’s jobs report, highlighted in more detail by Manager of Economic Research George Ratiu, reinforced the Fed’s optimism, and weekly jobless claims also trended in a healthy direction. Despite decent economic news in the 3rd quarter, the homeownership rate was...

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The big decision of Zillow to close down its iBuying business in November of 2021 may not only reveal a flawed business model but also the segue to a new real estate market climate. Inventories continue to contract, and interest rates for mortgages remain at or near...

Morris and Middlesex Counties Morris & Middlesex County Single Family Homes for September Key Metrics 2020 2021 Change New Listings 813 586 – 27.9% Closed Sales 614 493 – 19.7% DOM* 51 30 – 41.2% Median...

Union and Essex Counties Union County Single Family Homes for September Key Metrics 2020 2021 Change New Listings 667 512 – 23.2% Closed Sales 536 372 – 30.6% DOM* 44 31 – 29.5% Median PX $469K $475K + 1.3% %...

Bergen and Passaic Counties Bergen County Single Family Homes for September Key Metrics       2020     2021     Change New Listings     1,139      819      – 28.1% Closed Sales       874      738      – 15.6% DOM*                   51         32      – 37.3% Median...

The Monmouth County Board of County Commissioners announced significant changes to the emergency rental assistance program, AKA “Monmouth County ERAP.†New Ceiling Goes to $30,000 The changes will demonstrably increase the total maximum...

Monmouth and Ocean Counties Monmouth County Single Family Homes for September Key Metrics 2020 2021 Change New Listings 1,069 701 – 34.4% Closed Sales 849 664 – 21.8% DOM* 52 30 – 42.3% Median PX $565K $621K...