New Jersey Housing Market Slowing Down: Good News for Buyers; Bad News for Sellers
Data shows the number of homes sold is significantly less compared to a year ago. Interestingly, homes for sale inventory has been growing recently. Industry experts continue to note the increasing inventory in all markets. Moreover, mortgage interest rates are more than 2.5 points higher than a year ago, which may push more buyers out of the market. Rising rates equate to higher monthly payments and a larger payout overall for buyers, but a calmer market would mean their purchase price may be lower than what it would have been months ago. We can provide counsel and or assist you as to your real estate matters. Contact us at [email protected] or call us at 856-428-5577.