5 NJ counties listed among housing markets most likely to decline

Of the 50 counties in the nation most vulnerable to housing market declines, five are located in the Garden State, according to a new report from ATTOM, a property data provider.

The California-based company looked at home affordability, foreclosures, unemployment rates, and other measures from the fourth quarter of 2022 to determine which markets in the nation are most at risk of housing market troubles in 2023.

In total, the report gathered enough data from 581 counties.

Two counties in New Jersey are right near the top of the list.

Butte County in California takes the top spot.

Info source: ATTOM (Photo credit: Canva)

How much does the average NJ home cost? Median prices by county

Everything is costing more these days — and housing is certainly no exception in New Jersey.

Data for 2023 from January through May, compiled by New Jersey Realtors, shows that homes hit the market and sell in two months or less, on average.

Median prices for single-family homes have reached $500,000 and above in nine counties.

Most counties have seen houses go for more than the list price this year, while the rest have been very close to asking — on average.

Gallery Credit: Erin Vogt

Dino Flammia is a reporter for New Jersey 101.5. You can reach him at dino.flammia@townsquaremedia.com

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Gallery Credit: Cooper Fox (B98.5) and Cameron (The Breeze 103.9)

Weird things NJ taxes - and some they don't

In general, New Jersey assesses a 6.625% Sales Tax on sales of most tangible personal property, specified digital products, and certain services unless specifically exempt under New Jersey law.

However, the way the sales tax is applied in New Jersey sometimes just doesn't make sense.

New Jersey puts out an itemized list for retailers that spells out what is, and what is not, taxed.

Perhaps because this is New Jersey, there are some bizarre and seemingly contradictory listings.

Gallery Credit: Eric Scott

Categories: New Jersey News