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      –...

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 ...

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 amount of funds from the...

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   ...

Nationwide, existing home sales were down slightly in August, falling 2% after two consecutive months of increases, according to the National Association of REALTORS®. The decline in existing home sales coincides with rising sales prices, which have continued to soar...

Nor’easter hits New Jersey and New York with drenching rains. The storm seems to have developed a tight low-level center and is just offshore of Tom’s River, New Jersey. The storm is bearing some shades of subtropical development and the governors of New Jersey and...

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