📈Let’s compare how the real estate market in Monmouth and Ocean counties performed in July compared to last year.
📉Are we in or headed for a market cool down? That is the million-dollar question as we head into the end of summer here in New Jersey. According to reports from New Jersey Realtors, buyer activity has slowed down as a result of both higher mortgage interest rates (about 2 points higher than this time last year) and still high home prices. While inventory is still low, prices still steadily increasing. The bigger jump was seen in Monmouth and Ocean county condos and Ocean County single-family homes. What does a cool down mean for sellers? I’m still personally seeing bidding wars but not to the levels of a year ago (this seems to be the case with most agents I speak with).
📊If rising interest rates are keeping you from looking, let’s chat about some potential solutions the talented lenders I work with provide their current clients. If you want to sell but aren’t sure where you can buy, let’s talk! There are a lot of workarounds for both buyers and sellers in this market. Check out the infographics I created based on the information supplied by the Monmouth/Ocean Regional Realtors (MORR).
📲If you have any questions real estate in general, give me a call. I’m always happy to help!
732-508-7402 #BuySellRentWithMC
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