Essex County September Housing Report - 9-18-2023

Essex County September Housing Report 9/18/2023

Inflation Heating Up Again

Consumer Price Index rose 0.6% in August and is up 3.7% for 12 months. Prices driven by rising gasoline and shelter prices.

Oil Prices (West Texas Intermediate crude) Rose 15.3% in the past 30 days from $80.12. to $92.36.

30 Year Mortgage Rates Today Were 7.31% (Mortgage News Daily)

Singles, Condos and Multi-Families:

Month over Month, Prices were mixed, Units Sold rose and Active Listings fell.

Year over Year, Prices Rose over 10%, but Units Sold and Active Listings continue to drop double digit.

Record low housing inventory keeps pricing firm in spite of high mortgage rates.