Jeff Jones, the 2024 NCJAR President-Elect, shares exciting updates, including his gratitude for the opportunity to serve as the 2025 President. He highlights the release of a new consumer guide on listing agreements, emphasizes the importance of adhering to agency guidelines for open house signage, and announces a free accredited buyer representation course on October 28-29. He also reminds members to complete their 12 Continuing Education Credits by April 30, 2025, underscoring the importance of professionalism and continuous learning in real estate.

For questions and concerns, please contact us at 973-425-0110 or This email address is being protected from spambots. You need JavaScript enabled to view it..

The housing market saw a slight dip in existing-home sales in September 2024, as three out of four major U.S. regions experienced declines, according to the National Association of REALTORS® (NAR). Total sales, which include single-family homes, townhomes, condominiums, and co-ops, fell 1.0% from August to a seasonally adjusted annual rate of 3.84 million, marking a 3.5% decrease year-over-year.

While this overall decline continues the trend of a slower market, there is some positive news for both REALTORS® and their clients. NAR Chief Economist Lawrence Yun highlighted that factors like increased inventory, lower mortgage rates compared to last year, and a growing job market may signal potential improvement ahead.

Inventory Boost Brings Hope for Buyers

The total housing inventory at the end of September reached 1.39 million units, a 1.5% increase from August and a significant 23.0% jump from one year ago. This uptick in available homes translates to more options for buyers, a trend that can help alleviate some pressure in this competitive market. The unsold inventory now sits at a 4.3-month supply at the current sales pace, compared to just 3.4 months in September 2023.

Please note that the NCJAR Wayne Office will be OPEN on the following days:

• Tuesday, October 22
• Thursday, October 24
• Friday, October 25

The office will be CLOSED on Monday, October 21st and Wednesday, October 23rd.

Thank you for your understanding!

For questions, please email us at This email address is being protected from spambots. You need JavaScript enabled to view it..