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...

Read This Issue of Title Wise  

As buyers over the last 15 months have eaten away at the inventory within the single-family home market, much of the rental inventory has been sold creating a similar shortage of homes available for rent. Even though it appears that the housing market is slowing down...

Real Estate Pivots If we were tracking the real estate market like we track the stock market, we would look for new highs and new lows, then we would look for points where a breakout stands out or where support breaks down. Recently I noticed a certain trend that...