From NJ.com:
N.J. sees jump in new home listings. See full list.
More homes hit New Jersey’s housing market last month compared to the same time last year, according to the latest figures from Realtor.com.
A total of 10,004 homes were listed statewide in June, making for an increase of over 6% compared to the same time last year.
Hawaii and New York saw the largest jumps in newly listed homes at over 27% and 19%, respectively.
According to a Redfin report, nationwide new listings hit an almost three-year high in May.
“My advice to homeowners: If you’re planning to sell in the next year or two, do it now because we don’t know what’s going to happen with home values or the larger economy,” Hazel Shakur, a Redfin agent based in Maryland, said in the report. “Buyers should know that because of the uncertainty in the air, they may be able to get a home for under asking price or get concessions from the seller.”
From Fortune:
The American housing market is in a deep freeze—Even lower prices aren’t enough to convince stubborn buyers
The latest New Residential Sales report (June 2025) from the U.S. Census Bureau shows that the U.S. housing market is experiencing a slowdown in new single-family home sales, while inventory and supply have increased, and prices are declining.
As buyers balk at high home prices and mortgage rates that continue to approach 7%, a recent Oxford Economics report predicts more pain ahead. Concerns about the economy and job security mean many would-be new purchasers are opting to make do with modest home improvements instead.
Increased new home sales often indicate strong consumer confidence, greater employment, and accessible financing. Conversely, declines suggest waning buyer interest, affordability issues, or economic stress.
“There’s no question that in many of pockets of the Sun Belt—the epicenter of U.S. single-family homebuilding—buyers have gained a considerable amount of leverage this year and the market has softened,” ResiClub editor-in-chief Lance Lambert told Fortune Intelligence.
“In order to keep sales volumes steady, big homebuilders have compressed margins further and done bigger incentives or outright price cuts. Lennar is spending the equivalent of 13.3% of final sales price on incentive, like mortgage rate buydowns,” Lambert noted, up from 1.5% at the height of the Pandemic Housing Boom in the second quarter of 2022. In normal times, Lambert pointed out, Lennar spends 5% to 6% on buyer sales incentives. (Lennar is ranked no. 129 on the Fortune 500.)
Conversely, declines suggest waning buyer interest, affordability issues, or economic stress.
When the prices of tulip bulbs are discounted, an avalanche follows. Is that about to happen?
Maga can handle pronouns but not the economy:
“ Concerns about the economy and job security mean many would-be new purchasers are opting to make do with modest home improvements instead.”
Before it hits the national news, and it will:
https://www.tiktok.com/@noturningback_98/video/7531512546084326687?embed_source=121374463%2C121468991%2C121439635%2C121749182%2C121433650%2C121404359%2C121497414%2C121477481%2C121351166%2C121772354%2C121487028%2C121679410%2C121331973%2C120811592%2C120810756%2C121819198%3Bnull%3Bembed_card_play&refer=embed&referer_url=thencbeat.com%2Ftruck-driver-attacked-clyde-nc-dump-site%2F&referer_video_id=7531508660095290654
Horseshit. The damage is already done. Sellers just don’t know it yet. Hazel just wants more listings.
“My advice to homeowners: If you’re planning to sell in the next year or two, do it now because we don’t know what’s going to happen with home values or the larger economy,” Hazel Shakur, a Redfin agent based in Maryland, said in the report. “Buyers should know that because of the uncertainty in the air, they may be able to get a home for under asking price or get concessions from the seller.”
I had a busy weekend. Hosted a farewell party for my son as heads off to Pittsburgh on Saturday. We had about – A few cousins (and their spouses+kids) of my wife and a few family friends. Every family had lost a job (or took early retirement) recently and are now single income. One is a scientist working on clinical trials. Another was at a big bank. One dude worked at the federal reserve. Another a network admin.
On Sunday was at the memorial of a 97 yr old. He had a full life and some great accomplishments including being the architect of AP exams at ETS. Funny guy and I looked up to him – great story teller too. He would send email newsletters up hntil he went into hospice, filled with (sometimes raunchy) humor and mp4 attachments. He never got onto social media!
Hazel wants more listings.
Hazel needs them.
It is, however, not a bad time to sell. Especially if you want to be out of NJ.
I have read on here NJ is one of the top states for people leaving.
Is it also one of the top states for people moving in? You can be both, right?
All typos are my mobile phone’s fault.
RL
Good luck to your kid. Pittsburgh is supposed to be a great city. Hopefully he likes the Steelers.
Mortgage rates approaching 7 percent, is not the issue. Around 7 percent to borrow for 30 years is cheap, and not too long ago around 7 percent would be considered a great rate. Of course the Fed drove rates down so low, that mortgage rates were driven down to 3 percent or even less. This inflated the housing market. It’s not mortgage rates, its prices, and lack of inventory. Declining marriage and birth rates are also part of the problem, because it creates less demand. There are 20 odd houses in my town, most of them with price handles of 1,000,000 and up. A few others in the 700k to 900k. They have been sitting all summer.
Make sure you fly your co-worker with you to the next Coldplay concert. Buy one get one free:
An investigation found that United, Delta and American were all charging solo fliers higher fares for the same route than those who booked two tickets or more together.
After the report sparked backlash, United and Delta promised to scrap the pricing model and charge the same rates for singles and couples. American Airlines, however, kept the policy.
Now United — the US’s largest airline — has reneged, according to an analysis by The Economist.
It is once again charging weekday solo travelers a premium on at least 8 percent of its flights.
The data also showed that American Airlines applies the ‘single tax’ far more aggressively, charging solo travelers more on 57 percent of its routes.
American “Capitalist” Airlines applies the ‘single tax’ far more aggressively,
that mortgage rates were driven down to 3 percent or even less. This inflated the housing market.
Sure it did. And how many of those houses are their “primary?” I guess as an attorney he is aware he is lying, is aware they don’t care, and is aware if they do care that legally they cannot touch him.
Attorney General Ken Paxton claimed 3 homes as his primary residence
Mortgages signed by the Paxtons contained inaccurate statements declaring that each of the three homes were their primary residence.
Wall Street Just Bought Your Neighbor’s House:
Think of it this way: you might have your eye on that more charming three-bedroom corner house, waiting for it to go up for sale. But when it does, who do you think is there first?
It’s not your neighbor Bob or the newlyweds down the street; it’s some Wall Street landlord sporting a fat wad of cash and an eye for the deal. Suddenly, you’re not just bidding against locals; you’re up against serious players with deep pockets and powerful data tools. Welcome to the changing face of neighborhood real estate.
But for the landlords of Wall Street-a relatively new player in residential real estate-the game plan is rather clear: it’s long. And if what transpired in several neighborhoods across the United States is any precursor, big investors buying homes could soon shape housing markets in ways that affect everyone, from first-time buyer to longtime resident.
President Trump on Russia’s deadline, again: I’m going to make a new deadline of 10 or 12 days from today. We don’t see any progress being made.
Start the clocks.
It’s not mortgage rates, its prices, and lack of inventory.
It’s all about the price! Your dump smells like cat p1ss and Chesterfields. Drop it 150K and I’ll walk through just to make you feel good.
One of my favorites was being told to wait at the front door at an open house. Not being asked politely but like an angry parent to a 5-year old.
Not that I disagree, but I think it is more related to government spending. COVID and the inflation reduction act. Also this pathetic annual deficit.
https://en.m.wikipedia.org/wiki/Crowding_out_(economics)
3b says:
July 28, 2025 at 9:18 am
Mortgage rates approaching 7 percent, is not the issue. Around 7 percent to borrow for 30 years is cheap, and not too long ago around 7 percent would be considered a great rate. Of course the Fed drove rates down so low, that mortgage rates were driven down to 3 percent or even less. This inflated the housing market. It’s not mortgage rates, its prices, and lack of inventory. Declining marriage and birth rates are also part of the problem, because it creates less demand. There are 20 odd houses in my town, most of them with price handles of 1,000,000 and up. A few others in the 700k to 900k. They have been sitting all summer.
Build back better.
lmao.
Trump’s trade deals with Japan, and now the EU are pretty remarkable. Trump continues his winning streak. You have to give the guy credit. He effectively changed the goal posts on what an accepable tariff rate is. The real issue though is the trade imbalance I think.
Tariffs are like a VAT tax on imports. Probably affects the poor and middle class consumers the most. I hear the Ferrari buyers don’t care. There will be loophole and backdoor market winners probably.
I don’t like tariffs, or any taxes in an economy. Probably less damaging to an economy than higher, more progressive income taxes would be (despite Keynesian beliefs to the contrary). Consumption taxes hurt long term growth less than income taxes.
Chad Powers says:
July 28, 2025 at 10:42 am
Trump’s trade deals with Japan, and now the EU are pretty remarkable.
Time will tell.
I actually don’t think Trump will complete his term.
They’ll shoehorn Vance into the office. Watch.
I just wanna know what Trump is going to to in 12 days when Putin presents him with a statue of his hand with it’s middle finger proudly displayed.
When exactly does the rubber hit the road?
Is he gonna Stealth Bomb Moscow?
Trump’s cankles are worse than Shillary’s
ExLAX says:
July 28, 2025 at 11:30 am
I actually don’t think Trump will complete his term.
They’ll shoehorn Vance into the office. Watch.
Chicago: I don’t disagree with your additional analysis.
Interesting article today in the WSJ, in short companies today are proud of their downsizing efforts and operating with less staff, they don make apologies or excuses as they did in the past.They present it as a positive to their investors.
You can t be buying houses at $1,000,000.00 in Fairlawn or Saddle Brook NJ, if you are downsized.
Thanks DP. I told my kid that if he ever comes back home, he will get the shed. Hopefully his wings are strong enough to become totally independent when he finishes his long academic journey.
Inventory is propping up in Princeton, and prices are only marginally coming down. Two houses in my neighborhood on the market now. Staying longer on the market for sure and don’t see much traffic.
I was talking to a lady who works in IT at Princeton. She said it is scary times but glad that their administration is being transparent and doing the best they can to retain people – unlike what’s happening in corporate america.
No matter which way you look at it tough times are ahead. Anyone who celebrating Tariffs is a moron.
🚨 BREAKING: Trump on Jeffrey Epstein:
“I never went to the island. I never had the privilege of going to his island.”
Tariffs are like a VAT tax on imports.
Not really. What makes a VAT special is that it is paid at each stage in the production process. Tariffs are more like a sales tax.
Anyone see the video of Trump’s caddy dropping a golf ball ahead of him, and Trump quickly pouncing on it and playing it as if it was his? Looks like a well-practiced routine for him. He hits the ball well for a fat old man and seems to have good touch with his jerky putting stroke. But he can’t accept being a 12hcp which would be good for his age, he has to be club champion.
https://www.newsweek.com/donald-trump-golf-cheating-viral-video-2104940
A 27-country EU tariff deal finalized, billions invested in a move back to the U.S., talks with China resuming in trade negotiations, a sealed border, the BBB passed, data center infrastructure ramping up, the sale of American energy and military equipment to the EU, banning dudes from hitting girls, ending DEI, ramping up construction and modernization at airports… all within six months.
It makes you wonder what O’bidan and Obammy were doing for 12 years? Even Bush II, for that matter. Trump doesn’t stop, it’s a constant push to make us wealthier and greater. Even our foods and the push for better health is being aggressively pushed.
Tariffs are paid by the final consumer.
Reagan was against them.
But inconsistency and contradiction is key maga feature
OC1 says:
July 28, 2025 at 1:14 pm
Tariffs are like a VAT tax on imports.
Not really. What makes a VAT special is that it is paid at each stage in the production process. Tariffs are more like a sales tax.
You aren’t against tariffs.
Stop pretending you are.
Correction: it’s billions back to the US Billionaires, braaah
But, I get it! The poor and middle class would just waste that money on food and housing…,
I returned from a week in Phoenix. They’re having a relatively mild first half of the summer. 97-105F during the day. Dry and very bearable in the shade, even more so poolside. Lizards running around on the patio. No problems with HVAC keeping the house at 75F. Tucson was nice as always. Blue skies and nice weather.
Came back to 75F overcast, drizzle and high humidity. fml. The jet bridge even smelled like moldy carpet.
The suburban cookie cutter sprawl out there is rough. It goes on for tens and tens of miles. Just block after block of cut & paste.
Stu, flight of course delayed/cancelled, off airport private parking lot dinged me $40 for late arrival because my flight was cancelled/rebooked. I’m starting to think those parking lots RAB/MaaS books a significant portion of their revenues through these fees. Not the first time I’ve booked for $80-100 total and got hit with a $40 late show fee…. with my late arrival for pickup being completely out of my control.
billions invested in a move back to the U.S.
https://www.politico.eu/article/eus-600bn-us-investment-will-come-exclusively-from-private-sector/
“EU admits it can’t guarantee $600B promise to Trump.”
Surprise, surprise! Free market democracies can’t force private industries where and how much to invest.
And given that the new EU tariffs have not been ratified by the US congress (and might never be), the tariff rates can be raised, lowered, or eliminated via the whim of this president, or the next (who might not be a big tariff fan).
What company would invest billions into the US under those conditions?
And I’m still trying to figure out how making US consumers and manufacturers pay 12% more for EU products and raw materials is good for the US.
Fast can you explain that?
Travel – especially business travel is down significantly from what I’m reading. Don’t have the expected numbers. But Spirit Airlines seems to know something about it:
https://finance.yahoo.com/news/spirit-airlines-furlough-270-pilots-181634135.html
That news item from DP earlier where airlines charge about 8% more for solo travelers is not going to help.
2:52 – I think US is also underestimating the “anger” out there against Americans. I don’t have numbers on this, but heard on a podcast that Canada- which is by large the biggest consumer of US goods (more than the next 3 or 4 countries combined) is trying to avoid our products if they can.
Reciprocal tariffs and anger from other countries – even when we don’t realize the profits from the tariffs we impose, is going to play a big role in years to come.
By the way, some countries like Canada and Australia are no longer giving visa on arrival to US citizens. You need pre-approval online before you board.
Is this real?
Ghislaine Maxwell, convicted Jeffrey Epstein associate, makes pitch to Supreme Court
“EU admits it can’t guarantee $600B promise to Trump.”
Surprise, surprise! Free market democracies can’t force private industries where and how much to invest.
I agree. Those private companies’ ultimate actions are beyond the control of the EU. It’ll be higher than 600B once these companies see initial profit margins. There’s no place else to make epic bucks than in the U.S. We’re worth more than our weight in gold.
And given that the new EU tariffs have not been ratified by the US congress (and might never be), the tariff rates can be raised, lowered, or eliminated via the whim of this president, or the next (who might not be a big tariff fan).
A 220 lb. meteor might come crashing through your roof at 6,500 MPH at any time. Maybe you should move. Or, you might hit the lottery one day. Or pigs may fly. Or hell might freeze over. Should I go on?
And I’m still trying to figure out how making US consumers and manufacturers pay 12% more for EU products and raw materials is good for the US.
You’ll still be trying to figure it out years from now, I’m sure.
Anyone see the video of Trump’s caddy dropping a golf ball ahead of him, and Trump quickly pouncing on it and playing it as if it was his?
Yeah. Says a lot about the guy.
Rent – they don’t want refugees like you moving there. If you claim asylum after jumping the U.S.-Canada border, you will be sent back to the USA.
For Australia, there is no border to jump, you get there on a tourist vias and overstay? They are putting you on a plane back to the USA.
I don’t have numbers on this…
If I had a penny every time a democrat speculated, I’d be living on my yacht.
You’ll still be trying to figure it out years from now, I’m sure.
So you don’t have an answer to my question then?
As for me, I generally don’t cheer on some political development if I have 0% understanding of what it will accomplish.
But cultists don’t need to understand; they just need to believe (unquestionably).
Juice, Keep beating your chest. It doesn’t change the fact that there are now new rules for international travel that will hamper our growth.
A 220 lb. meteor might come crashing through your roof at 6,500 MPH at any time. Maybe you should move. Or, you might hit the lottery one day. Or pigs may fly. Or hell might freeze over. Should I go on?
This is why you have economists and other specialists to make predictions and not pull numbers out of their ass like Orange man.
As for me, I generally don’t cheer on some political development if I have 0% understanding of what it will accomplish.
But yet, you’re quick to dismiss some political development while assuming someone will pay 12% while believing someone’s prediction is completely accurate. If someone said a consumer or manufacture will pay nothing, you’d never ask the question because then, it wouldn’t fit your narrative.
Anyone see this public service message promoting Trump on South Park?
https://www.youtube.com/watch?v=Afetnw70S04
But yet, you’re quick to dismiss some political development while assuming someone will pay 12% while believing someone’s prediction is completely accurate. If someone said a consumer or manufacture will pay nothing, you’d never ask the question because then, it wouldn’t fit your narrative.
Fast, you’ve posted a couple of times cheering about how much revenue the gov is now getting from tariffs.
SOMEBODY is paying that money- who??