Real Estate Market Today☀️ November 2022 by Robert O'Keefe (ROK Realty Group)

🏠Home prices fell again for the third consecutive month. The last time this has happened was nearly four years ago. The market still remains competitive. 24% of homes are receiving offers over their asking price. This is due to low inventory which happened to decrease again this month.

🏠After hitting 7%, mortgage rates continue to decrease. Rates fell again to 6.58%. Overall, rates are up 3.1% from where they were last year. Many buyers are utilizing cash, with all-cash sales accounting for 26% of all transactions.

🏠Jersey City Rent Control Battle: Jersey City residents squared off against their landlord and won a rent control ruling for their building.

Presented By:
Robert O'Keefe - ROK Realty Group
(201)-374-7334 (Text/Call)
robert@rokrealtygroup.com

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