Short Sales Continue to Drop in Essex and Union Counties

Lender short sales continue to influence these key NJ markets. However the percentages of new listings which identify themselves as short sales continues to drop in both Essex and Union Counties. In 2016, about 10% of listings initiated in these counties, some of the more densely populated counties in central NJ. This is down from 2015, which saw rates of about 12% and 2014 which saw rates of about 14%.