Episode 8 Realsophy Real Estate Podcast: Current State of the Real Estate Market as of August 2024

Welcome to Episode 8 of the Realsophy Real Estate Podcast! 🎙️ In this episode, we're diving deep into the Current State of the Real Estate Market as of August 2024 to empower you with the latest insights.

🔍 Topics Covered:

1. NAR/NJAR Real Estate Trends: We analyze the current New Jersey Association of Realtors (NJAR) statistics, focusing on inventory, closed sales, median sales price, average sales price, % list price sold, and affordability.

2. NJ Rent Trends: We analyze how the current rents have changed over the last 1-year and 3-year period

3. "Lock-in Effect": Highlight how mortgage rates have reduced affordability and caused a surge in home prices due to the lack of inventory.

4. Consumer Price Index (CPI) and Inflation: Shelter Costs

5. Mortgage Rates: Fed Rate vs. Yield

6. Realsophy Updates: Stay in the loop with the latest Realsophy events and closing news.

Tune in to stay informed and make smarter real estate decisions in today’s challenging market. Don’t forget to like, subscribe, and share your thoughts in the comments below!

Contact us at info@realsophyrealestate.com for information and support on how we can help.

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