National Real Estate News and Local Views for the Week Ending Friday, April 26, 2024

A graph showing the nar 's pending sales index

Buyers gotta buy

Pending sales (signed contracts to purchase an existing home) rose 3.4% month-over-month in March 2024 [Source: NAR]. This despite average 30-yr mortgage rates hovering around 7% and record home prices in many areas. A larger number of homes for sale certainly helped (up roughly 20% year-over-year), but the real story is pent-up demand. Life happens, and when it's time to move, it's time to move.

A graph showing the real gdp growth of a country

Slowing economy, rising prices?

Real GDP grew at an annualized pace of 1.6% in Q1 2024, well below both Street expectations (2.5%) and the previous quarter's growth (Q4 2023: 3.4%). A cooling economy should have been positive for the bond market, but instead bond prices got crushed, sending bond yields and mortgage rates higher. Why? Q1 2024 inflation - as measured by Private Consumption Expenditures - appeared to reaccelerate [Source: BEA

So here we are again

We will find out today (Friday), if the "sneak peek" at the PCE inflation data for March was accurate. With 10-year US Treasury bond yields having jumped nearly 1% in the last four months (to over 4.7%), it would not take much good news to cause a bond price rally. Expectations are for March "core" PCE to improve slightly, from +2.8% YoY in Feb --> +2.7% YoY in Mar.

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Recession vs. Housing Crisis—What’s the Difference?

By Ronny Gutierrez • April 13, 2025

A recession doesn’t guarantee a housing collapse. With disciplined lending, low supply, and strong equity, 2025’s market is positioned to weather economic storms. Use these insights—and share the infographics—to make confident, data-driven decisions. Need personalized advice? Connect with me to navigate 2025’s opportunities.

A drill is sitting on top of a house plan

The Truth About Newly Built Homes in Today’s Housing Market

By Ronny Gutierrez • April 13, 2025

Headlines are talking about the inventory of new homes and how we’re back at the levels not seen since 2009. And maybe you’re reading that and thinking: oh no, here we go again. That’s because you remember the housing crash of the late 2000s and you’re worried we’re repeating the same mistakes.

A person is holding a tablet with a city coming out of it.

Top Neighborhoods to Invest In 2024: Where to Put Your Money for Maximum Returns

By Ronny Gutierrez • April 13, 2025

Whether you're a seasoned investor or a first-time buyer looking to capitalize on emerging opportunities, here are some top neighborhoods to consider for The Garden State for investment in 2024.

a man is sitting at a desk drawing a graph with houses on it. #MsGRealEstate

2024 Home Price Forecast Revised Up

By Ronny Gutierrez • February 26, 2024

Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall. So, let’s see exactly how experts’ thinking has shifted – and what’s caused the change