News and Events
Saturday, January 5, 2019
Dear REALTORS,
 
New Jersey REALTORS® recently heard from two different Congressional offices with concerns about how the current government shutdown is affecting the real estate market. These two offices have knowledge that there are still closings being delayed or postponed due to the circumstances surrounding the shutdown. 
 
If you have any knowledge of specific closings that have been affected, please contact the association immediately so we can help connect you with the channels.
 
Thank you,
Christopher Tausch
2019 GBAR President 
Christopher Tausch,
 2019 President
LEGISLATIVE NEWS
Shutdown a Negative on Market
NAR Chief Economist Lawrence Yun says the partial shutdown of the federal government is hurting real estate markets, mainly because of the uncertainty it's causing. In addition, some homebuyers are seeing a delay in their transaction, especially among those using mortgage financing backed by the federal Rural Housing Service, according to NAR Director of Federal Housing Policy Megan Booth.
INDUSTRY NEWS
Amazon's Two New HQ2 Cities Expected to Outperform Most U.S. Housing Markets in 2019
According to Zillow's new 2018 Q4 Zillow Home Price Expectations Survey, a handful of metro areas that spent the past year competing for Amazon's second headquarters - including Washington, D.C., one of the winners - are expected to see their home-value growth outpace the nation in the coming year.
GLOBAL PERSPECTIVE
Chinese buyers expand their reach in the US housing market
Chinese consumers may have soured on some American products, like iPhones, but they have only sweetened on U.S. residential real estate. They have been the top foreign buyers in both units and dollar volume of residential housing for six years straight, according to the National Association of Realtors, and now they expanding to new, lower price tiers.
TECH TIPS
Real Estate in a Digital Age
In the Real Estate in a Digital Age report, we examine the process home buyers go through in the initial online search and how REALTORS® are connecting with customers in the digital space.  In 2018, buyers worked with an agent 87 percent of the time to find their home, so trust in a REALTOR® is still king. While the initial process may start online, home buyers turn to the advice from a trusted real estate agent.
Greate r Bergen Association of REALTORS® | 201.288.5000 | communications@bergenboard.com