New Jersey Statistics for New Jersey

This episode begins with New Jersey's monthly real estate statistics analysis, usually done in the second week. Sales prices and volume differ, among other market trends, according to the hosts. Inventory restrictions benefit sellers, slowing sales though home prices are up 5.41% year-over-year. Note that months of inventory are 2.16, indicating a competitive market. Mortgage rates, which reached two-year highs at over 7%, have dropped, easing buyer concerns.
The hosts discuss how macroeconomic issues like inflation and rate changes affect real estate and cryptocurrency. Despite recent mortgage rate stabilization, the market remains sensitive to economic movements, especially consumer mood. Annually, new postings are up 16% but down monthly. Despite these swings, average and median sales prices have climbed by 7% and 10% annually, suggesting robust demand in Monmouth and Ocean counties.
The hosts also discuss the TikTok ban, which they believe stifles competition under the pretense of national security. They criticize market monopolization and doubt data security promises. The essential argument is that New Jersey's real estate market is strong but restricted, with slower growth than in prior years. Buyers should move quickly due to limited supplies, while sellers gain from increased demand.