I am a realtor in North Jersey and there is no slow down in this area what so ever. We still have homes coming on the market ND selling over asking price with multiple offers in less than a weeks time. The closer you are to NYC and train access the less affected you are by these little trends. Not to mention inventory is still extremely low, and sales normally slow down this time of years its cyclical.
Those pre foreclosure reports are also inflated because of someone forgets to send in their payment on time they get put on the list it's not entirely accurate.