Deep Dive: Taking a look at the housing market. What it means for people looking to buy or sell

The housing market has taken a wild ride the past few years -- things like low interest rates and bidding wars. But some recent reports suggest the market is cooling.
In this week's Deep Dive, News 12's Kristie Reeter and Investopedia look into the data to see if that's true.
Caleb Silver, with Investopedia, discusses the changes in New Jersey being seen with home prices.
“New Jersey had a really strong housing market in the early part of the year, but it is cooling down and especially county by county,” says Silver. “Across the country, home prices increased 19.7% from July to July but when you look inside New Jersey, Monmouth County is the only county that exceeded that at 21.6%, Morris County home prices increased 14.7% from August to August of last year, Bergen County only 12.2% and Hudson County only 9%."
So, what does this mean for people looking to buy or sell?
"Typically, the fall is the weakest time of year for home sales, people go back to school, kids go back to school, families are sort of settled in, but inventory is still very tight,” says Silver. “Especially in Monmouth County where you see prices continue to rise. So, inventory is tight and mortgage rates are still relatively low, so I expect the housing market to cool just not as much as it does in past years, just given those low rates. "