COVID-19 pandemic ignited NJ house market and it stays hot

With low inventory, low interest rates and high demand, some buyers are paying well over asking price

Even if you’re not in the market to buy a home it’s hard to miss the headlines about the pandemic-ignited boom in the sale of homes in New Jersey. Sales are hitting peaks not seen since the mid- 2000s. And limited supply has sparked some outrageous bidding wars.

While some fear the high prices are building another housing bubble ready to burst, economic and industry experts say not so.

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