New Jersey Real Estate Report

From Newsweek:

Florida’s Housing Market Has ‘Flipped’ for Homebuyers

Florida’s housing market has “flipped” for homebuyers, according to real estate analyst Nick Gerli, but not the way they might have wished for.

While the Sunshine State can solidly be considered a buyer’s market, as homes are taking the longest in the country to sell and inventory has risen by double-digits in recent months, locals are just not earning enough to afford the properties for sale.

“The growth in inventory in Florida has started alleviating buyer’s affordability issues. Home values are down 4.7 percent over the last year, and now the salary needed to buy in Florida is down to $98,000, which is an improvement from several years ago,” Gerli, CEO of Reventure App, told Newsweek. “However, the market is still about two times more expensive than it was before the pandemic.”

Redfin data shows that the median sale price of a home in Florida was $404,200 in July, down 1.3 percent from a year earlier. It marked the fifth consecutive month of year-over-year price declines, as the state’s housing market has experienced a stark slowdown since the start of the year due to booming inventory and falling demand.
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However, improvements in affordability are unlikely to feel significant to many buyers in the state struggling with other issues—including high home insurance premiums and rising homeowners association fees.

“A return to pre-pandemic affordability is unlikely in Reventure’s baseline forecast, as we expect prices to drop another 6.3 percent over the next 12 months,” Gerli told Newsweek.

“However, if there were to be a serious recession, or increase in mortgage defaults in Florida, then further downside is possible. Overall, we think a 20 percent correction in the state is likely.”

From the Realtors:

August 2025 Monthly Housing Market Trends Report

• Inventory of homes for sale grew for the 22nd straight month: Active listings grew by 20.9% year over year, exceeding 1 million active listings for the fourth consecutive month.
• Supply recovery has slowed: Inventory gains decelerated from 31.5% year over year in May to 20.9% in August, while the gap to pre-pandemic levels widened to 14.3%, signaling a stalling recovery.
• Market momentum has faded: Pending home sales fell 1.3% year over year, new listings grew just 4.9% and have now declined for four straight months. Homes are sitting longer at 60 days on the market (+7 days YoY), now above pre-pandemic norms for the second month in a row.
• Prices remain flat: The national median list price held at $429,990 (unchanged YoY, down 2.2% MoM), with softer trends in the South and West, underscoring seller frustration as affordability remains stretched.
• Sellers are feeling the pressure: 20.3% of listings had price cuts, with the South and West seeing the sharpest adjustments. Delistings rose 57% year over year, further indication of a seller pullback.
• The national market is ‘balanced,’ but this varies widely: New metro-level months of supply data from Realtor.com®show 7 buyer’s markets, 20 seller’s markets, and 23 in balance among the 50 largest metros. 

Where Housing Inventory Is Growing the Fastest

Inventory increased in all four major U.S. regions in August, but the pace of that growth has slowed recently.

• West: +26.7% 
• South: +21.8%
• Midwest: +15.5%
• Northeast: +14.2%

At the metro level, all of the 50 largest markets recorded year-over-year inventory growth. These markets saw the sharpest increases:

• Washington, DC (+54.7%)*
• Las Vegas (+48.2%)
• Raleigh (+42.3%)

From CNN:

America’s housing market gained $20,000,000,000,000 in 5 years

Buying a home has become increasingly pricey in the past few years. Now, Zillow has put a staggering number to those higher costs: America’s housing market has climbed 57% since 2020, to a record $55 trillion.

That means that in just five years, the US housing market’s value has climbed $20 trillion, according to data from the real estate company released Monday.

Zillow’s findings highlight a housing market that remains historically expensive, with values climbing even as elevated mortgage rates sideline would-be buyers and force more sellers to slash asking prices.

But the housing market’s gains haven’t been spread evenly in 2025. New York added $216 billion in value over the last year, more than any other state. New Jersey, Illinois and Pennsylvania were close behind.

“Demand continues to outpace supply in the Northeast,” Orphe Divounguy, a senior economist at Zillow, said. “When you look at housing inventory in New York, there are only half as many homes for sale as there were before the pandemic. So you have the value of the existing housing stock really rising a lot in that market.”

In contrast, pandemic-era boom states Florida, California and Texas lost billions in their housing markets in 2025. Once magnets for buyers seeking sunshine – and often looser Covid restrictions – demand has started to cool off in these states.

From Parcl Labs:

Regional Divide as New Construction Cracks: August Motivated Seller Update

This summer Parcl Labs launched the Motivated Seller Index (MSI): a real-time, 0-10 metric scoring seller urgency based on days on market, price-cut frequency, cut velocity, and reduction size.

Our June research found Florida dominated seller urgency, with 14 of the top 20 most motivated markets in the Sunshine State.

This analysis expands on our June work by examining regional trends, market rankings, and property segment-level motivation. The story has evolved. Florida no longer stands alone.

The South is 20-30% More Motivated Than the Northeast

Regional bifurcation is here. As of late August 2025, home sellers across the South show meaningfully higher urgency than their Northeast counterparts.

The South Atlantic leads regional motivation rankings. MSI hits 4.17, 27% above New England’s 3.28. The rest of the South follows close behind, with East and West South Central both posting MSI above 4.0.

The West South Central region (Texas, Oklahoma, Arkansas, Louisiana) shows the longest marketing times at 69 days and deepest price cuts at -3.0%, a new pressure point since our June analysis.

The West runs close behind Southern urgency. Pacific and Mountain regions both register MSI above 3.9, running 20%+ above Northeast levels.

Sellers still have leverage in the Northeast. New England anchors the bottom at 3.28 MSI, where listings clear in 54 days with minimal concessions. Middle Atlantic follows at 3.39.