News

Saddle Brook, NJ – December 8, 2023 – This week, Greater Bergen REALTORS® (GBR) Executive leadership team attended the New Jersey REALTORS® Award Ceremony at the 2023 REALTORS® Triple Play Convention and Trade Expo, in Atlantic City, NJ. GBR’s Immediate Past President, Robert Funabashi was honored at the ceremony, receiving the local real estate association REALTOR® of The Year Award on behalf of Greater Bergen REALTORS®. The session also honored Communications award winners, Quarter Century Club recipients, and REALTOR® Emeritus members.

Prices Continue To Increase In September Despite Softening Home Sales

Saddle Brook, NJ – October 25, 2023 – National sales of existing homes recently fell to a 7-month low, as surging borrowing costs, rising sales prices, and limited inventory continue to keep many would-be buyers out of the market. Borrowers have become increasingly sensitive to fluctuations in mortgage rates, which have remained above 7% since mid-August. With fewer buyers able to afford the costs of homeownership, existing home sales declined 0.7% month-over-month and were down 15.3% year-over-year, according to the National Association of REALTORS® (NAR).

Saddle Brook, NJ – October 26, 2023 – Greater Bergen REALTORS® (GBR) hosted their Annual Membership Meeting and Affiliate Tradeshow on Friday, October 20^th for 400 attendees at the Glenpointe Marriott in Teaneck, NJ. The free membership event was an opportunity for association members to network with fellow real estate and industry partners at the Affiliate Trade Show, hosted by Curbelo Law, Bond Street Mortgage, Campanella Law Office LLC, Big Centric Appliances, Think Mortgage, LCD Commercial Lending, Prestige Cleaning Service of Bergen County, Kelly Title Group, Jiffy Junk, New Jersey Lenders Corp. Mortgage Bankers, and Nu World Title.

Saddle Brook, NJ – August 28, 2023 – Affordability constraints have continued to limit homebuying activity this summer, with existing-home sales falling 3.3% month-over-month nationwide as of last measure, according to the National Association of REALTORS® (NAR).

Mortgage rates have approached 7% in recent months, leading many prospective buyers to put their home purchase plans temporarily on hold. But higher rates have also kept many existing homeowners from listing their homes for fear of giving up the low-rate mortgages they locked in a few years ago, when rates were significantly lower.

Saddle Brook, NJ – August 15, 2023 - Throughout their yearlong campaign, Greater Bergen REALTORS® (GBR) Young Professionals Network (YPN) has held several food-packaging events at GBR headquarters in Saddle Brook to aid the mission of non-profit organization and community partner, Kids Against Hunger®.

Last week, YPN and GBR's Community Service Committee teamed up for another food-packaging event, where they were joined by leaders of Hudson Gateway Association of REALTORS® leadership, 2023 President, Tony D'Anzica, and Immediate Past President, Anthony Domathoti.

Saddle Brook, NJ – August 3, 2023 – Temperatures are heating up, yet the U.S. housing market remains cooler than usual for this time of year due to a combination of low inventory and higher borrowing costs, which have restricted market activity going into the summer homebuying season.

According to the latest data from the National Association of REALTORS® (NAR), national existing-home sales climbed 0.2% from the previous month but were down 20.4% compared to the same time last year, as fluctuating mortgage rates and a near all-time low level of inventory continue to influence home sales.