News

Saddle Brook, NJ – August 22, 2024 –U.S. existing home sales fell 5.4% month-over-month and 5.4% year-over-year to a seasonally adjusted annual rate of 3.89 million units, with monthly sales down in all four regions, according to the National Association of REALTORS® (NAR). Higher mortgage rates, along with rising sales prices, have kept many prospective buyers on the sidelines, despite more home choices and less competition for those homes.

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 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.

Saddle Brook, NJ – April 5, 2023 – Recent changes in the housing market in Bergen County, NJ, in February 2023 have proven that seasonality doesn’t have a real effect in real estate this spring. Where business usually begins to bloom this time of year, buyers and sellers alike are struggling to gain the upper hand in the current market.