News

Saddle Brook, NJ — August 25, 2025 — U.S. existing-home sales fell 2.7% from the previous month to a seasonally adjusted annual rate of 3.93 million, according to the National Association of REALTORS® (NAR). Sales were unchanged from one year earlier. Regionally, monthly sales declined in the Midwest, Northeast, and South but rose in the West. Year-over-year, sales decreased in the Northeast and West but increased in the South and Midwest. 

Saddle Brook, NJ – February 27, 2025 - U.S. existing-home sales advanced for the third straight month, climbing 2.2% to a seasonally adjusted annual rate of 4.24 million units, a 10-month high, according to the National Association of REALTORS® (NAR). Sales were up 9.3% year-over-year, driven largely by purchases of homes priced $500,000 and above. Month-over-month, sales rose in the South, Northeast, and the West but fell in the Midwest, with all four regions reporting year-over-year gains.

Saddle Brook, NJ – July 24, 2024 –  U.S. existing-home sales declined for the third consecutive month, as higher mortgage rates and rising sales prices hindered market activity during what has traditionally been one of the busiest months of the year. According to the National Association of REALTORS® (NAR), sales of previously owned homes dipped 0.7% month-over-month and 2.8% year-over-year, to a seasonally adjusted annual rate of 4.11 million units.

Saddle Brook, NJ – July 1, 2024 –  U.S. existing-home sales fell for the second month in a row, sliding 1.9% month-over-month and 1.9% year-over-year, according to the National Association of REALTORS® (NAR), with sales down in all four regions of the country. Higher borrowing costs and accelerating home prices continue to weigh on demand, pushing some prospective buyers to the sidelines and causing market activity to slump ahead of summer.

Greater Bergen REALTORS® (GBR) celebrated Pride Month in June with the third annual Lunch and Learn event, Empowering LGBTQ+ Voices & Homeownership at GBR headquarters in Saddle Brook. This year, the event was co-hosted by the Diversity, Equity, and Inclusion (DEI) Committee and the Young Professionals Network (YPN).

"In our business, allyship, leading with intent, and fostering an inclusive environment are paramount; and it all starts with us," stated GBR 2024 DEI Committee Chair, Andre Porter.

Saddle Brook, NJ – May 23, 2024 –  U.S. existing-home sales recently fell from a one-year high, dropping 4.3% month over-month to a seasonally adjusted annual rate of 4.19 million, according to the National Association of REALTORS® (NAR), as higher interest rates and rising sales prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7% in recent weeks, while the median existing-home sales price hit $393,500 as of last measure, a 4.8% increase from the previous month, according to NAR.

"Based on the monthly report in our area, home prices are still going up while the number of homes for sale are going down. This means we are still in seller's market,” states Greater Bergen REALTORS® 2024 Immediate Past President, Alireza Memar.

Saddle Brook, NJ – March 22, 2024 – U.S. existing-home sales grew 3.1% month-over-month to a seasonally adjusted annual rate of 4.00 million, exceeding economists’ expectations and marking the strongest sales pace since August 2023, according to the National Association of REALTORS® (NAR). Falling interest rates late last year, coupled with a recent uptick in inventory, helped existing-home sales to climb following last month’s decline, with monthly gains reported in the Midwest, South, and West regions.

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.