Hudson County not immune to national trend — home sales are cooling off here, too

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NJ.com

Home sales in Hudson County have cooled off compared to last year, mirroring a nationwide trend as mortgage rates and sale prices have increased. According to Redfin, a national real estate brokerage, the county had 358 home listings this October, a drop of 44% from the 643 homes listed last October. The median sale prices have also increased from about $585,000 in September 2021 to $600,000 as of this September. The trends can be attributed to increasing interest rates as the Federal Reserve has sought to combat the highest inflation in decades. According to FreddieMac, the U.S. 30-year mortg…

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