NJ Real Estate Market Shows Seasonal Adjustment in August

Housing activity slowed in August with increased inventory for the 34th month, up 3.6% year-over-year but still 11.1% below pre-pandemic levels. The national median listing price fell 1.3% year-over-year to $424,500. New Jersey saw a 15.6% rise in active listings and a median price of $565,000. Mortgage rates remained high, around 6.65%-6.69% for 30-year fixed loans. Most North Jersey counties had more listings and price reductions, with varied changes in median prices and days on market.