On August 30, 2025, Fortune Magazine published an article titled “The housing market is no longer a wealth-building engine as home prices continue to slump”. The report highlighted a shift in the U.S. housing market, where home prices are no longer outpacing inflation, inventories are climbing, and buyer demand is weakening.
But national headlines do not always capture what is happening here in North Jersey. To see the real picture, we compared those national findings to local data from the New Jersey MLS for Bergen County.
National Housing Market: Slowing Growth 🚨
Key takeaways from the Fortune article:
- Prices slipping: The Case-Shiller 20-city index fell 0.3% in June, the fourth straight monthly decline.
- Wealth erosion: Home values rose just 1.9% year-over-year, while inflation came in at 2.7%. In real terms, homeowners actually lost wealth.
- Demand weak: The traditional spring and summer selling season has been called “a bust,” with sluggish new home sales and flat resale activity.
- Inventory rising: Listings are up 25% year-over-year nationally, marking 21 consecutive months of growth.
- A new normal: Analysts believe housing may now grow at inflation-level rates instead of the double-digit wealth gains of 2020 through 2022.
In short, the national picture is one of cooling demand, rising supply, and slower home appreciation.
Bergen County Housing Market: The Local Numbers 📊
The New Jersey MLS data shows that Bergen County has not mirrored the national slowdown in every respect.
Median Prices 💵
- Prices climbed from $765,000 in October 2024 to $880,500 in August 2025.
- Bergen values have trended higher while national averages have slipped.
Sales Volume 📑
- Closings dipped to 235 in February 2025 but rebounded strongly to over 500 sales in June, July, and August 2025.
- Demand remains healthy despite affordability challenges.
Inventory 📦
- Active listings rose from 1,182 in October 2024 to nearly 2,000 in June 2025, before easing slightly in August.
- Months of inventory reached 5 months in February through May, the closest Bergen has come to a balanced market in years.
- This mirrors the national trend of supply growth, but at a more manageable pace.
Days to Sell ⏳
- Homes took longer to sell in the winter, with the median hitting 28 days in February 2025.
- By May through August, median days to sell tightened back to 14 to 18 days, showing that well-priced homes still move quickly.
New Listings 🏠
- Fresh listings surged in spring, climbing from 424 in January 2025 to 772 in May and 727 in June, before cooling to 474 in August.
- A wave of sellers entered the market, yet buyer demand absorbed much of that new inventory.
What It Means for Bergen County Sellers ✅
- Prices are holding up: Unlike the national story of wealth erosion, Bergen prices have continued to climb.
- Inventory is looser: Buyers now have more choices than they did during the pandemic frenzy. Sellers must be realistic with pricing.
- Demand remains strong: Proximity to NYC and a strong job market are keeping buyers engaged.
- Timing matters: The window for quick sales is open, but sellers need to price correctly in a more competitive market.
The Bottom Line 🔑
Nationally, housing is cooling and homeowners are no longer building wealth at the pace they once did. In Bergen County, the New Jersey MLS data tells a slightly different story. Prices are firm, sales remain strong in the summer months, and homes that are priced properly are still selling quickly.
For sellers, this means:
- If you are thinking about selling, now remains a favorable time.
- If your property needs work or you are facing financial pressure, pricing and speed are more important than ever.
- Waiting for another round of double-digit appreciation is unlikely to pay off.
Call to Action
If you are a Bergen County homeowner weighing your options, whether through a traditional listing, a fast cash offer, or guidance during probate or preforeclosure, New Jersey House Partners can help you find the right path forward.
👉 Contact us today to get a clear picture of your home’s value and selling options in today’s market.