U.S. existing home sales ticked up 0.5% from the previous month to a seasonally adjusted annual rate of 4.13 million, marking the third consecutive monthly increase, according to the National Association of REALTORS® (NAR). However, sales were down 1.0% from the same period last year. Regionally, sales rose month-over-month in the Northeast and South, were unchanged in the West, and declined in the Midwest. On a year-over-year basis, sales were flat in the Northeast and South and fell in both the Midwest and West.
- Single Family Closed Sales were up 2.2 percent to 1,575.
- Townhouse-Condo Closed Sales were down 6.3 percent to 372.
- Adult Communities Closed Sales were up 36.2 percent to 64.
- Single Family Median Sales Price increased 6.7 percent to $640,000.
- Townhouse-Condo Median Sales Price decreased 2.3 percent to $420,000.
- Adult Communities Median Sales Price increased 0.2 percent to $481,000.
The national median existing-home price continued to climb, rising 1.2% from a year ago to $409,200, according to NAR. This year-over-year increase—the 29th consecutive monthly gain—reflects ongoing tightness in housing supply. At the end of November, there were 1.43 million units for sale, down 5.9% from the previous month but up 7.5% from the same time last year, representing a 4.2- month supply at the current sales pace.
NCJAR Total Market Overview
Morris County
Somerset County
Union County
Essex County
Passaic County
