The housing market is hot for many reasons. Millenials are one of them.
Updated Apr 17, 2021;
Posted Apr 17, 2021
A real estate For Sale sign reading Sold hangs on Bard Avenue lawn as home buyers gain strength amid an ailing market.Thursday July 12, 2012. (Staten Island Advance/Anthony DePrimo) Staten Island AdvanceStaten Island Advance
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We’ve all heard about houses selling in days with multiple offers and bidding wars being the norm. But in the midst of a pandemic and all its implications it’s tough to understand why the housing market is so hot.
Experts tell NJ Advance Media the record home-buying spree is being fueled by low interest rates, a flourish of millennial buyers and urban flight.
These 5 N.J. towns are where the most homes sold last year
Updated Mar 13, 2021;
Posted Mar 13, 2021
This Shelter Cove home has 4 bedrooms and 2.5 bathrooms and is currently listed at $439,000.
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Houses were flying off the market in the second half of 2020.
Bolstered by low interest rates and the confines of the pandemic, many people sought new digs. First-time homebuyers, second home purchasers and folks fleeing the city fueled the sellers market.
Data from New Jersey Realtors indicates that these five New Jersey towns had the most closings on single-family homes last year.
Hamilton Township, Mercer County
Coming in at number five, Hamilton Township in Mercer County had 820 closings on single-family homes. It also had the lowest median home value on this list, at $274,500.
Skyrocketing Suburbs: The 10 Urban Escapes Where Prices Are Rising the Most
Skyrocketing Suburbs: The 10 Urban Escapes Where Prices Are Rising the Most
With suburbs seeing a surge in demand, prices are also shooting up. In a pandemic, the places where values are rising the most may have the most to offer.
Sara Ventiera, provided by
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The COVID-19 pandemic has really taken the shine out of big-city life. With the usual gathering places shuttered and little space to maintain physical distance from others, many folks are revising the perceived value of urban living and hightailing it to the suburbs where they can have room for a real home office
Skyrocketing Suburbs: The 10 Places Where Prices Are Rising the Most realtor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from realtor.com Daily Mail and Mail on Sunday newspapers.