Home real estate markets intensified in 2021 due to what appears to have been a buyer frenzy that drove single-family home prices steeply upward across the State of New Jersey. More single-family homes closed despite fewer listings in New Jersey.
Topic
housing prices
New Jersey Policy Lab: A Primer on Housing Markets with a Bird’s Eye View on New Jersey
Expect telecommuting and surge of millennials forming families to push housing demands in NJ, especially in “good” school districts. Lahr notes a widening gap between housing starts and completions–due to supply chain challenges–and considers pandemic impacts on low-income households.