NJ Spotlight News
Increasing home prices in the face of elevated interest rates is occurring “not only New Jersey, but it’s been a nationwide trend as well,” said Jeffrey Otteau, chief economist with the Otteau Group. “It’s never happened before. What we expect to see happen … is that interest rates will continue to fall. The inventory of houses on the market will rise and home prices will slow below this very, very high rate of increase that we’ve been seeing in recent years,” Otteau said.
