NCJAR News
June marks National Homeownership Month, a time to spotlight the enduring value of owning a home. At North Central Jersey Association of Realtors (NCJAR), we are dedicated to enlightening our community about the substantial benefits of homeownership and committed to making this cherished dream a reality for every family.
Building Generational Wealth
Homeownership is more than just owning a property; it's a pathway to building generational wealth. Over time, homes generally appreciate in value, offering long-term financial security to families. The equity built in homes can serve as a foundation for future investments, education funding, or as a nest egg for retirement.
Strengthening Communities
![The Value of a Realtor®: Why You Need a Real Estate Professional The Value of a Realtor Why You Need a Real Estate Professional](/images/The_Value_of_a_Realtor_Why_You_Need_a_Real_Estate_Professional.png)
U.S. existing-home sales recently fell from a one-year high, dropping 4.3% month- over-month to a seasonally adjusted annual rate of 4.19 million, according to the National Association of REALTORS® (NAR), as higher interest rates and rising sales prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7% in recent weeks, while the median existing-home sales price hit $393,500 as of last measure, a 4.8% increase from the previous month, according to NAR.
- Single Family Closed Sales were up 6.7 percent to 1,331.
- Townhouse-Condo Closed Sales were up 14.2 percent to 362.
- Adult Communities Closed Sales remained flat at 47.
Please note that in observance of the upcoming holiday, NCJAR board offices will have modified hours.
We will close early at 12:00 PM on Friday, May 24, 2024, and remain closed on Monday, May 27, 2024.
Regular business hours will resume on Tuesday, May 28, 2024, from 9:00 AM to 4:30 PM.
We wish everyone a Happy and Safe Holiday Weekend!