Tales of a Seasoned Broker

It seems as if the real estate market is playing one intense game of chicken with buyers and sellers waiting for the other side to blink. Nationally, prices continue to rise even as mortgage rates have almost doubled from a year ago. Across the country and in our own area, as well,  the month of June saw a significant gain in housing inventory.  While it’s too soon to obtain national data on the stats for July, an early look at the housing stock available in the immediate area of Teaneck, Bergenfield and New Milford indicates that there is no quick relief in sight.  Listings available on the market were actually down by over 8% from this time last month and while average list prices were also lower the amount is too insignificant  to signify any real systemic change.

Nechama Polak is the Broker of Record and owner of V and N Group LLC located at 1401 Palisade Ave in Teaneck. nechamapolak@gmail.com 201 826 8809.