north jersey

Performance Property Real Estate Question

The Softest Part Of The Real Estate Market

Q: I’ve read that parts of the real estate market are softening. Is that true? Judy, Clifton, NJ A: Housing inventory is an indicator that suggests how long it will take to sell the homes currently for sale in a market based on current demand. Housing inventory levels at most price points in north jersey are still relatively low which is a sign that there is still room for growth. However, at the very high end, inventory levels are incredibly high—over 2 ½ years worth of inventory for homes priced at $2.5 million or higher. This shows that even with a thriving economy, McMansions have fallen out of favor and the new tax law with limits on SALT deductions has […]

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