NEW JERSEY HOMEOWNERSHIP TRENDS
Jerel Washington
HOME SALES ARE INCREASING IN THE NEW JERSEY HOUSING MARKET
More and more people in New Jersey are becoming homeowners; this is made apparent by the rise in home sales in the city. Pending sales have made a recovery. Although the housing market hasn’t completely recovered from the coronavirus effect WWW.THEPOWERISNOW.COM
on the economy, it is clear that buyers are making their way back to the market, which can be taken as a positive sign for the New Jersey housing market.
Most people expect a crash in the housing market, but this is highly unlikely due to the high demand for homes. MORE PEOPLE ARE MOVING TO NEW JERSEY
It is unclear what the long-term impact is, but more people are choosing to move to New Jersey. This is because of the record low rates and stimulus activities the previous year. Due to the rise in home sales, vacancies continue to pop up in the city. Although it is noteworthy that the coronavirus negatively affected the New Jersey market, which makes this season the best time to purchase a property as it would be at a discount and at a l
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t the beginning of this year, there was a report from Mashvisor about the effect of the pandemic on the New Jersey real market. This has shown the New Jersey housing market being slowed down by the COVID-19 despite the fact that the New Jersey governor declared real estate as an essential business. Many local buyers are waiting to see how the coronavirus will affect the economy locally and nationwide before they make a move to buy a house. Many sellers are scared that home prices would drop soon and are therefore pulling their homes out of listings. Below is some New Jersey homeownership trend we’ve come across.
