Housing Market News Update
NJ Statistics in the Newark, NJ Metro Area:
- New Inventory is way down by 27%
- Pending Sales are down 18%
- Median Sale prices are up by 13% to $569,000
- Median days on market for a home is 29 days.
Key Housing Statistics:
- Mortgage Interest Rates (30 years) are at 7.25%
- CPI Inflation Report is at 2.9%, up 0.3% over the last 12 months
- CORE inflation did improve by 0.3% to 2.9%
- The Fed's goal is still wanting to reach at 2.0%
Additional reporting data worth looking at from CNBC.
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