News

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 – May 30, 2023 – The housing market in Bergen County, New Jersey, usually in full bloom mid-spring, has seen several changes in April. Earlier this season, the drop in mortgage interest rates was promising for potential buyers and sellers. Rates have fluctuated since, causing many buyers to put the brakes on purchasing homes.

Saddle Brook, NJ – May 15, 2023 – Last week, Greater Bergen REALTORS® (GBR) members travelled to Washington D.C. for the 2023 REALTORS® Legislative Meetings, from May 6-11th. The six day stretch of Legislative Meetings was an opportunity for REALTORS®, lawmakers, and industry leaders across the country to participate in critical public policy conversations to advance the real estate industry.