The state of the state in NJ real estate as it applies to home sales is a beautiful picture.
Every 6 months The Otteau Evaluation Group puts out their bi-annual analysis of the residential and commercial real estate markets. The newest one is now available. Not only do they analyze where we have been, but also where we are currently and projections for the next few years.
The Current State of the State:
Includes 2 overriding themes –
- The rocky unemployment numbers- which are largely due to technology replacing manufacturing jobs.
- Another is the economy, which is better, but still not growing at a robust pace.
However, these 2 pieces of the national financial pie are not having much of an impact on the housing recovery here in NJ. All indicators point to a recovery in full swing with sale prices increasing year over year and projected to increase year over year for the next 5 years.
If you are anything like me I bet you are in a much better frame of mind riding the upswing than the downswing of the “The Great Recession.”