New Jersey housing inventory rose in September despite higher prices

New Jersey home buyers had more available properties in September as housing inventory increased 12.1% year over year to 22,746 homes for sale, Insider NJ reported. Despite the growth in available homes, prices continued to rise. The statewide median sales price grew 2.8% compared to September 2025, reaching $550,000 as new listings entered the market. [1]

The national housing and rental markets continue to feel the pressure of high borrowing costs. Bloomberg reported that United States mortgage rates remained unchanged at 7.4%. Meanwhile, BiggerPockets noted that interest rates hover around 7.5% while median home prices nationally remain near $400,000, which has delayed market recovery as household incomes struggle to keep pace with housing costs. [4][6][7]

High mortgage payments are driving stronger demand in the rental sector. Zillow Research reported that its renter demand index rose 19.2% year over year in September. The typical monthly payment for a new home buyer increased 5% to $3,037, climbing almost twice as fast as the typical monthly rent, which rose 2.7% to $1,932. [2]

Other regional markets and pricing shifts are showing mixed trends across the country. According to the Franklin Observer, Redfin observed price drops in the housing market. In Texas, Community Impact reported that homes in Central Austin spent fewer days on the market year over year during September. [5][9]