NJ is one of the hottest real estate markets in America (Opinion)
COVID-19 has changed the real estate market all over the country, slowing sales in some areas, pumping them up in other areas. I have written many times before about the mass exodus out of the big cities to the suburbs of New Jersey.
At the beginning of the pandemic people felt they needed space and breathing room, and New Jersey became the perfect place to be especially situated right between two huge metropolis 10 areas Philadelphia and New York.
Although I think this could be leading to a letdown either post-election or post-vaccine, the New Jersey real estate market is still on fire. I’ve written before about the hot Jersey Shore market overall, including the increasing property values in Atlantic City, not to mention some of the surprising South Jersey counties and Philly suburbs that have seen unprecedented action. This brisk business is both despite and a result of the Pandemic
In fact, according to a new survey of real estate professionals detailed in an article on NJ.com, North Jersey is about to be considered the 14th hottest real estate markets in the entire country through 2021. The report, released by the urban land institute, notes the high demand for North Jersey property, not just demand from families escaping the cities, but also its desirability for development, opportunities for redevelopment and high demand from investors.
Only time will tell whether or not this buying frenzy will continue, but if you’ve ever thought of investing in North Jersey, at least for the time being, it’ll cost you.
The post above reflects the thoughts and observations of New Jersey 101.5 talk show host Judi Franco. Any opinions expressed are Judi's own.