News

Fannie Mae’s Home Price Sentiment Index reported that in July it fell to 62.8; this is its lowest level since 2011. The report indicates that a small percentage, 17% of respondents, felt that it was a good time to buy a home in July. This was...

Back in 2005 the share of subprime mortgages that were seriously delinquent increase from about 5.6% to 21% by July 2008. That's the kind of seismic economic disruption that reshapes a nation and an economy. This past May 2022, there were only 2.7 percent of mortgages...

The housing market will reflect a different configuration of correction moving forward. Even though prices seem to have eased in terms of the trajectory of appreciation, the inventory shortage and the constriction on building supplies will continue to make housing a...

Hudson County Single Family Homes for June Key Metrics 2021 2022 Change New Listings 176 125 – 29.0% Closed Sales 97 84 – 13.4% DOM* 32 24 – 25.0% Median PX $519K $605K + 16.6% % PX Rec’d...

https://www.youtube.com/watch?v=sVhGW1pLM3g

Morris and Middlesex Counties Morris County Single Family Homes for June Key Metrics 2021 2022 Change New Listings 813 770 – 5.3% Closed Sales 694 528 – 23.9% DOM* 31 22 – 29.0% Median PX $600K $654K + 9.1% %...

Overall, inflation is a factor hitting all sectors of the economy, real estate included. Less week CoreLogic reported that the average home price increased by over 18% year-over-year. It appears that this rate is slowing as the rate from May to June was only .6%,...

Bergen and Passaic Counties Bergen County Single Family Homes for June Key Metrics 2021 2022 Change New Listings 1,232 1,068 – 13.3% Closed Sales 895 770 – 14.0% DOM* 30 25 – 16.7% Median PX $656K $711K +...

https://youtu.be/eT0gc6qO_zY

Title Wise Newsletter

Monmouth County Single Family Homes for June Key Metrics 2021 2022 Change New Listings 1.018 934 – 8.3% Closed Sales 724 616 – 14.9% DOM* 29 26 – 10.3% Median PX $625K $675K + 8.0% % of PX 103.4% 104.9% +...

• Single Family Closed Sales were down 16.0 percent to 7,804. • Townhouse-Condo Closed Sales were down 14.3 percent to 2,436. • Adult Communities Closed Sales were down 12.1 percent to 680. •...