The combined effects of elevated home prices, rising interest rates and reduced migration from New York City are slowing the pace of home sales and causing the number of unsold homes on the market to rise. Additional threats to home sales come from record high inflation and growing fear of an approaching economic recession.
Jeffrey Otteau has developed this briefing covering the latest trends affecting the New Jersey housing market to prepare you for what to expect in the coming months and years. Join us for this important webinar so you can maximize your business model and counsel your client for the big changes coming to the housing market.
Here is a sampling of the essential information you’ll hear about:
- Housing Report – While 2022 started off strong, the pace of home sales has slowed sharply as elevated home prices and higher mortgage interest rates have reduced the affordability of home ownership. This comprehensive roundup will examine market performance at the submarket level and provide you with the latest trends for your local area.
- Home Prices – ‘How much is my home worth’ is the most asked question in real estate, which is why understanding current market pricing is something you absolutely need to know. Find out the latest home price trends down to the submarket-level with our exclusive ‘town-by-town’ Report Cards so you can sharpen your pencil and prepare a more accurate CMA.
- Shifting Demand Profiles – The exodus of households leaving New York City, which was a big reason for the surge in suburban home prices over the past 2 years, has now slowed significantly. As a result, home purchase demand is now more reliant on locally sourced buyers already living here in New Jersey. Find out how this is affecting the ‘Price & Pace’ of home sales today.
- Housing Forecast – “Is the housing market heading for a correction with falling prices” is the top trending topic today. We’ll provide you with a roadmap for what to expect in the coming months and into 2023 with our market forecast for New Jersey home sales.