New Jersey Realtors reports more homes for sale in August

New Jersey's housing market saw a 9% increase in inventory to 21,580 homes in August, offering more options for buyers. However, median sales prices rose 2.7% to $575,000, with single-family homes at $615,000 and townhouses/condos at $439,990. Closed sales dropped 2.4%, and pending sales fell 8.9%, amid affordability challenges from high home prices and mortgage rates exceeding 7%.