What Does Slowing Housing Market Mean for Buyers and Sellers in NJ?

August 19, 2022 | njspotlightnews.org

If you are looking to buy a home, now might be a good time. New data shows that the competition to buy a home is starting to ease. Homes in July received an average of 2.8 offers, down from 3.4 offers in June and down from 4.5 a year ago, according to the National Association of Realtors. The association reported that sales of previously owned homes fell nearly 6% in July compared with June.

NJ SEED: A recession in the housing market will have a profound negative impact on many other sectors of the NJ economy.