Inflation, inventory, and higher prices are creating a bottleneck for new home buyers to step into this fluid real estate market. According to the Mortgage Bankers Association, mortgage application volume fell for the week of June 3rd by 6.5%, representing the...

Truly, homeownership is one of these American phenomena. Mortgages only became generally available after the U.S. banking system came into being after the 1860s through the National Bank Acts. Another milestone was reached when Congress passed the Fair Housing Act of...

Union & Essex Counties  Union County Single Family Homes for April Key Metrics       2021       2022     Change New Listings       661         563     – 14.8% Closed Sales      387         349     – 9.8% DOM*                   38           33      – 13.2% Median...

● The median listing price grew by 18.2% over 2021 ● Mortgage rates have eased in recent weeks ● But mortgage rates are still over 5% ● In many New Jersey Markets, the price trajectory has eased ● Inventory shortages continue to constrain the number of home sales ●...

For the last two-and-a-half years the real estate market has been in such an accelerated trend that it was acting more like the stock market rather than the real estate market. In contrast with the inflated market that led to the 2008 crash of the stock and real...

Huson County  Single Family Homes for April Key Metrics      2021       2022     Change New Listings      153        123      – 19.6% Closed Sales       79          88      + 11.4% DOM*                  36          36       – 00.0% Median PX       $485K    $541K     +...

Bergen and Passaic Counties  Bergen County Single Family Homes for April Key Metrics         2021       2022     Change New Listings       1,234         910     – 26.3% Closed Sales        644         541     – 16.0% DOM*                     48           35      –...

Morris and Middlesex Counties  Morris County Single Family Homes for April Key Metrics       2021       2022     Change New Listings       781         615     – 21.3% Closed Sales      470         355     – 24.5% DOM*                   45           30      – 33.3%...

Monmouth County Single Family Homes for April  Key Metrics       2021       2022      Change New Listings       934         833       – 10.8% Closed Sales      565         491       – 13.1% DOM*                   40           31        – 22.5% Median PX        $575K ...

Memorial Day (originally known as Decoration Day is a federal holiday in the United States for mourning the U.S. military personnel who have died while serving in the United States armed forces. It is observed on the last Monday of May. It was formerly observed on May...

Read this week's Title Wise.  

The average 30-year fixed rate mortgage exceeded 5% in April, the highest level    since 2011, according to Freddie Mac. The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant...