Housing Market Forecast

2025 REALTORS® Legislative Meetings Recap from Lynne Mortimer, 2025 NCJAR Trustee

Lynne Mortimer, one of NCJAR’s 2025 Trustees, recently returned from the impactful Legislative Meetings held in Washington, D.C., where REALTOR® advocacy was in full force. Lynne, alongside fellow REALTORS®, met directly with lawmakers on Capitol Hill to address pressing issues that affect homeownership and the real estate profession.

One of the key highlights of these meetings was a discussion with U.S. Representative Nellie Powell from New Jersey’s 9th Congressional District. The conversation focused heavily on the proposed Mansion Tax Bill, which aims to double the tax from $10,000 to $20,000 on homes priced at $1 million or more—and triple it for homes purchased at $2 million or more. Such legislation, if enacted, could severely and negatively impact the real estate industry in New Jersey.

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NJREC License Renewal Deadline - JUNE 30, 2025

Check the status of your NJ Real Estate License with your Broker or go to NJDOBI and ensure your license expiration date reads June 30, 2027.

Complete Your Qualifying Questionnaire Before June 30, 2025

The New Jersey Real Estate Commission (NJREC) requires all licensed real estate professionals to complete a mandatory Qualifying Questionnaire before renewing their license for the 2025 cycle.

This questionnaire is an essential part of the renewal process and must be submitted through the NJREC’s online licensing portal.

What Is the Qualifying Questionnaire?

The Qualifying Questionnaire is a series of required questions designed to ensure licensees remain in good standing and meet legal and professional standards. It includes items related to legal history, eligibility, and compliance with state regulations.

Why It Matters:

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Pending Home Sales Edge Up in May: A Positive Signal for REALTORS®

Pending home sales in the U.S. saw modest but encouraging growth in May, signaling resilience in the housing market despite fluctuating mortgage rates. According to the latest data from the National Association of REALTORS® (NAR), the Pending Home Sales Index (PHSI) rose by 1.8% month-over-month and 1.1% year-over-year, providing a much-needed boost of confidence for real estate professionals navigating an evolving landscape.

Month-Over-Month Trends Show Uniform Gains

All four major U.S. regions experienced increases in contract signings from April to May, reflecting broad-based momentum in the market. The most significant gains were recorded in the West, which surged 6.0%, followed by the Northeast at 2.1%, the South at 1.0%, and the Midwest at 0.3%.

This consistent regional growth signals renewed buyer interest as summer begins, and provides REALTORS® with valuable opportunities to re-engage their client bases.

Year-Over-Year Performance: A Mixed Bag

On a year-over-year basis, national pending sales rose 1.1% compared to May 2024. However, the performance varied significantly by region:

• Midwest: +2.6%

• South: +2.0%

• Northeast: -0.5%

• West: -1.2%

While the Midwest and South are leading in year-over-year growth, the Northeast and West saw slight declines, driven largely by inventory and affordability challenges.

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New Consumer Guide: Making Your Home More Energy Efficient

Improving your home’s energy efficiency doesn’t require a major renovation or a big investment. Whether you’re hoping to cut down on monthly utility bills, upgrade your home before listing it, or simply modernize your space, there are several practical steps you can take to make your home more energy-smart—and cost-effective.

What Is Energy Efficiency?

At its core, energy efficiency means your home is using less energy to perform the same tasks. That translates to lower utility costs and a more comfortable living space. This often involves making sure systems like heating, cooling, and major appliances are running as effectively and economically as possible.

Where Should I Start?

Begin with a home energy audit. This professional assessment identifies areas where your home may be losing energy—such as drafty windows, insufficient insulation, or outdated appliances. Some utility companies even offer energy audits at little or no cost, making it a smart first step in your efficiency journey.

Quick & Low-Cost Energy Savers

Small changes can lead to big savings over time. Consider these easy upgrades:

• Switch to LED lightbulbs
  
  
• Seal air leaks around windows and doors

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Nominate a Fair Housing Champion by June 30 – $5,000 Award!

The Fair Housing Champion Award, presented by the National Association of REALTORS® and sponsored by realtor.com®, is now accepting nominations!

This national award recognizes REALTORS® who go above and beyond to promote fair housing and expand homeownership opportunities for all members of their communities.

In 2025, NCJAR's very own William “Bill” Flagg made history as New Jersey’s first Fair Housing Champion. Bill’s tireless efforts—hosting Homeownership Fairs, securing grants, and embedding fair housing into NCJAR’s strategic policy—are a shining example of what this award celebrates.

Now it’s your turn to help us recognize the next trailblazer.

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