Will the New Jersey Housing Market Crash?

Will the New Jersey Housing Market Crash?
I’ll have an update for you on interest rates and how they’re expected to impact home prices. Will the housing market crash?

Is now the time to make a move?
We’re seeing a lot of people preparing to enter the market this winter. Listings have risen now for a second week in a row, with the recent survey data suggesting that a growing share of homeowners and potential sellers are eager to find new homes.

What’s the impact of rising rates on home prices and home sales?
Home prices are slightly impacted by rising mortgage rates.

Will home sales be impacted by rising interest rates?
I’ll take an in-depth look at the home price forecast for 2022. A lot of people are saying what’s going to happen to housing next year? I’m concerned, I’m concerned that you know, here we go again. Well, forecasters are calling for 5.1 on average, percent appreciation in housing next year, and you see anywhere from seven and a half to almost 3 percent appreciation on the low side. This is a direct nod to seeing more inventory come into the market, you know, the price will always be dictated by supply and demand in any market. This helps people say okay, this is what we can expect relative to the housing market going into next year.

The bottom line here is that housing sales are forecasted to increase this year and perform very well again in 2022. I always want to remind people that last year in 2020, we sold six and a half million homes in this country. We’re forecasted to sell more than that this year and more than that next year, leading for the past two years, phenomenal years in the real estate market, a very, very good year next year as well.

Thinking about selling your home in Ocean County, NJ?
There’s literally never been a better time, and sometimes that feels like a broken record and I know certainly all of you out there have heard that many, many times.

Thinking of buying a home in Ocean County, NJ?
To the buyer that says I don’t know if I want to buy at the top of the market which, you know, you look at price appreciation, it’s certainly not the top of the market but that is a feeling.

I get it, if you sell, you’re thinking you’ll going to have to pay more for another home, is what’s forecasted for appreciation. You know the best time to buy a home is this year, the next best time is right now. There was a survey done by the home price expectation survey, based on this year all the way through 2026, buying a home, average price home, what appreciation is at stake? Just over $111,000 in real appreciation over the next five years.

The Winter 2022 buyer and seller guides are available now!
These guides will equip you with everything you need to know to make a powerful and confident decision for you and your family. Is it the right time for us to buy, is it the right time for us to sell and move on?

This is a great resource that I want you to take advantage of.

—————————————— Resources for YOU ———————————————
2022 Buyer Guide 👉 https://bit.ly/3qH4Vbz
2022 Seller Guide 👉 https://bit.ly/3pOTJuj
I hope you find this video helpful as you gather more information to make smart informed real estate decisions.

I believe every family should feel confident when buying and selling a home.

⛵️ The best of Ocean County real estate + lifestyle!
🙋‍♀️ Jennifer Kerr | REALTOR®
📲 Questions? (732) 966-0800
📧 jenn@theoceancountylocal.com

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