Housing Market

Bergen, Camden, Essex, Gloucester, Ocean, Passaic, Sussex, and Union joined various counties in California and the Chicagoland area to make up more than half of the 50 as of the end of the second quarter.

The annual Out of Reach report finds fair market rent and 'housing wage' in New Jersey are less than in 2021. But "the picture is much worse" than the data.

Six New Jersey counties placed in the top 10 most vulnerable housing markets in ATTOM Data Solutions' Special Housing Risk Report for the first quarter of 2022.

More than half of millennials in the Garden State feel that the time is now to be putting down roots for their budding families and 43% specifically said they wanted to start building equity.

Two-thirds of New Jerseyans said they would be willing to make an offer within three days of viewing a home, with 23% saying they would not have a problem making an offer immediately.

Beside COVID concerns, what the high-risk markets also all have in common is that they are high-density, and would be prone to risk even without a pandemic.

In 2018 throughout the Garden State, for every 10 homes purchased by single males, 12 were taken off the market by single females, according to New Jersey Realtors statistics.