Saddle Brook, NJ – September 1, 2026 - U.S. existing-home sales declined 2.4% from the previous month to a seasonally adjusted annual rate of 4.09 million units, according to the National Association of REALTORS® (NAR). Regionally, sales increased in the Northeast but declined in the West, South, and Midwest. Compared to a year earlier, existing-home sales rose 2.8%, with gains in the Midwest, South, and West while remaining unchanged in the Northeast.

Locally, the market continues to show strong demand, particularly for single-family homes. Single-family closed sales increased 12.1% to 555, while the median sales price rose 6.6% to $917,000.

“An 8.7% increase in closed sales for all properties signals strong demand, especially for single-family homes, which saw a 12.1% increase,” said GBR Vice President Jack Koumbis. “Single-family homes remain in high demand with rising prices and quick sales, though affordability challenges are growing.”

Additional market highlights from the July 2026 report include:

• Single-Family Closed Sales: Increased 12.1% to 555.
• Townhouse-Condo Closed Sales: Decreased 3.5% to 193.
• Adult Communities Closed Sales: Increased 133.3% to 14.
• Single-Family Median Sales Price: Increased 6.6% to $917,000.
• Townhouse-Condo Median Sales Price: Increased 4.3% to $526,500.
• Adult Communities Median Sales Price: Decreased 32.1% to $535,000.

“While overall inventory rose 8.6% year-over-year, demand continued to outpace supply for single-family homes, where inventory actually decreased by 0.6%, maintaining upward pressure on prices,” Koumbis said. “To address this, we need to unlock more inventory.”

Koumbis pointed to a proposed NAR initiative aimed at encouraging more homeowners to sell by increasing the capital gains tax exclusion to $1 million for married couples and $500,000 for single individuals.

“As part of the NAR initiative, raising the capital gains tax limits to $1 million for married couples and $500,000 for single individuals would allow sellers to carry more of their equity into their next purchase without facing additional tax burdens at that level,” Koumbis said.

Nationally, the median existing-home price reached a new record of $440,600, up 1.8% from a year earlier, NAR reported. Home prices have increased annually for 36 consecutive months, reflecting continued demand despite inventory remaining below historically balanced levels.

Heading into July, 1.56 million properties were available for sale, down 0.6% from the previous month but up 1.3% from the same period last year, representing a 4.6-month supply at the current sales pace. Homes spent a median of 28 days on the market, while first-time homebuyers accounted for 33% of home purchases.

Click Here for the full ShowingTime Report for the month of July 2026.
 
Data as of August 9, 2026. All data from New Jersey MLS and Hudson County MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2026 ShowingTime Plus, LLC.