July’s numbers are in: the national median home price climbed 2.6% year-over-year to $400,000, even as inventory grew by 4.4% and home sales increased 2.9%. It’s interesting to see how different property types are performing—single-family homes rose 2.5%, condos 2.3%, and townhomes 0.8%. For my fellow New Jersey first-time buyers, this steady growth is a reminder of the importance of timing and strategy when entering the market. My experience working with buyers, sellers, and those facing foreclosure has shown me how crucial it is to understand these shifts, especially when exploring downpayment assistance programs ranging from $10,000 to $37,000. Whether you’re navigating your first purchase or considering your options in a changing market, it pays to have your strategy tailored to the latest trends.
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