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Home Sales Rise From 13 Year Low, Breaking Five-Month Streak In Sales Decline

Posted by: Katherine Diveris on Monday, February 26, 2024

Saddle Brook, NJ – February 26, 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.

Tags: 2024 bergencounty buyers greaterbergenrealtors homeownership housing market housingdata housingmarket inventory january monthlyindicator newjersey sellers

Mortgage Rates Have Fallen to Their Lowest Levels Since September 2022

Posted by: Katherine Diveris on Thursday, March 9, 2023
Saddle Brook, NJ –March 9, 2023 – In the new year, the housing market in Bergen County, NJ seems to be promising a positive change for today’s buyer. For most sellers, the current market remains a waiting game, while average sales continue to slow. According to the National Association of REALTORS® (NAR), national pending sales rose
Tags: 2023 bergencounty data GBR greaterbergenrealtors housingmarket january monthlyindicator nationalassociationofrealtors news NJRealtors realestate
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