NJ Realtors Reports A Strong Month for Home Sales

TRENTON, NEW JERSEY (SBN) — Despite a continued inventory crisis, April was a strong month for home sales, with buyer activity remaining high, fueled by continued low interest rates. Throughout the state, there were 10,083 closed sales for the month of April, up 33.4 percent over April 2020, which was the height of the pandemic. The average 30-year fixed-year mortgage rate was 3 percent, as of May 25, 2021, which has helped buyers remain positive in their home searches, despite being limited in their options.

Robert White, president-elect of the New Jersey Realtors, discussed the trends in this audio interview with SBN correspondent Steve Lubetkin.