News

Some of the reportage on the market characterizes the inventory shrinkage as a loss of new listings, rather than the voracious buyer appetite in this historic real estate market. In one report, the journalist indicated that they discovered there were half as many...

According to the Mortgage Bankers Association, the total number of loans now in forbearance fell by 7 basis points from 5.29% portfolio volume to 5.22% as of February 14th. This translates into approximately 2.6 million homeowners that are in forbearance. The share of...

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● In this ferociously liquid real estate market, putting together the buyer’s team of the real estate agent, the loan officer and the attorney, what advice can you offer? ● How does an attorney leverage his knowledge to speed up the transaction? ● What are some first...

Bergen County Single Family Homes for January Key Metrics 2020 2021 Change New Listings 854 687 – 25.4% Closed Sales 480 663 + 38.1% DOM* 71 48 – 32.4% Median PX $493K $560K + 13.6% % of PX 97.3% 99.9% + 2.5% Inventory 2,503...

Union County Single Family Homes for January Key Metrics 2020 2021 Change New Listings 551 428 – 22.3% Closed Sales 338 387 + 14.5% DOM* 60 37 – 38.3% Median PX $375K $450K + 20.0% % of PX 98.4% 100.6% + 2.2% Inventory 1,251 641...

Morris County Single Family Homes for January Key Metrics 2020 2021 Change New Listings 533 408 – 23.5% Closed Sales 371 390 + 5.1% DOM* 75 41 – 45.3% Median PX $428K $517K + 20.9% % of PX 96.9% 100.2% + 3.4% Inventory 1,545 779...

Monmouth County Single Family Homes for January Key Metrics 2020 2021 Change New Listings 885 607 –31.4% Closed Sales 489 540 + 10.4% DOM* 68 47 – 30.9% Median PX $460K $549K + 19.3% % of PX 96.8% 99.5% + 2.8% Inventory 2,358...

January started off strong for the housing market, with healthy buyer demand and strong market fundamentals.

Over the last few years lumber prices have skyrocketed as much as 300%. Dating back to January 2017, housing starts for single-family homes were up strongly by 7%. Then all of a sudden COVID-19 hit and between May and July of 2020, housing starts increased by 17%...

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