Neighbor News
Bergen County Homeowners See US Home Sales Peak for 2014
The question of whether or not to sell this time of year is always a tricky one... When rates go down, sales go up!

why, when the theme is a thriving business, they show a graph with lines that move up (often at an
angle that would worry a mountain goat). It makes for an easily grasped, direct message.
Find out what's happening in Westwood-Hillsdalefor free with the latest updates from Patch.
Alas, graphs showing Bergen County home sales never seem to show such neat, orderly trajectory—
and that’s for any number of reasons. For instance, if some closings happen to be delayed by a day
Find out what's happening in Westwood-Hillsdalefor free with the latest updates from Patch.
Keeping track of national home sales numbers is subject to the interventions of that same
stubbornly real world, of course; so when home sales registered a slight drop in August, few
seasoned analysts saw it as an emerging trend...or so it seemed.
That reading was confirmed when it turned out existing U.S. home sales notched the fastest
pace of the year in September. Commentators who had been noting the August falloff picked up on
rate of 5.17 million units, the strongest reading since
September of last year.” –Reuters
“...singlefamily homes, townhomes, condominiums and coops,
increased 2.4 percent to a seasonally adjusted annual rate of
5.17 million in September from 5.05 million in August. Sales are
now at their highest pace of 2014”–the Realtor®
“...Sales in September were up 17% from a year earlier...in the
U.S. rose...to a seasonally adjusted annual rate of
467,000...”–The Wall St. Journal
Area homeowners have been hoping that the continued level of low mortgage interest rates
would spur home sales in Bergen County, especially now that regulators are working on relaxing tough
regulations that have discouraged lenders from issuing loans to any but the most prime credit risks.
Young people and others with less than stellar credit have sometimes found themselves eyeing
point in the housing rebound, so opening up the mortgage spigots would allow many first time Bergen