News

Saddle Brook, NJ – January 24, 2024- U.S. existing-home sales rose from a 13-year low, climbing 0.8% from the previous month and breaking a five-month streak in which sales declined, according to the National Association of REALTORS® (NAR). Despite the increase, sales were down 7.3% compared to the same period last year, as affordability challenges continue to hinder prospective buyers. Most of this period’s closed sales went under contract in October, when mortgage rates were at a two-decade high. With rates having dropped more than a full percentage point since then, existing-home sales may continue to pick up in the months ahead.

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 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.

Saddle Brook, NJ – July 28, 2023 –During their month-long campaign, the Back-To-School Backpack-A-Thon, the Greater Bergen REALTORS® (GBR) Community Service Committee alongside the GBR REALTORS® Care Foundation, collected school supplies and classroom essentials at GBR headquarters and several participating GBR brokerage locations in Bergen County.

Last week, a team of dedicated volunteer members participated in the successful packing event of 300 backpacks, which were then distributed to four local non-profit organizations who partnered with the committee for the cause.

Saddle Brook, NJ – July 3, 2023 - Greater Bergen REALTORS® (GBR), Diversity, Equity, and Inclusion (DEI) Committee hosted Pride Month Celebration: Lifting LGBTQIA+ Voices In Real Estate at GBR headquarters in Saddle Brook last week, on June 28. The event was an opportunity for members to hear from keynote speakers Robert White, Immediate Past President of New Jersey REALTORS® (NJR), and Christian Fuscarino, Executive Director of Garden State Equality.

Saddle Brook, NJ – June 14, 2023 - Last week, GBR co-hosted the Second Annual DEI Real Estate Summit, a regional two-day diversity, equity, and inclusion (DEI) summit, designed to build curiosity while exploring understanding of DEI within personal and professional careers, while reviewing the correlation between fair housing and DEI, how DEI makes business sense, and the implicit biases that continue to plague the real estate industry.

The two-day summit included an afternoon of continuing education courses and a networking reception on Monday, June 5th, as well as a full day of speakers, discussion, and break-out sessions on Tuesday, June 6th.