nj housing market forecast 2021

Corelogicâs forecast predicts home prices nationally will have fallen 6.6 percent year-over-year by May 2021. Northern New Jerseyâs office properties ranked twelfth on the âbuy-hold-sell listâ for 2021 in the ULI forecast. The housing market is in a tricky situation given massive unemployment, continued shelter-in-place, the coronavirus, and tremendous uncertainty. This is the only article on the web that includes real estate market predictions beyond 2022. The market is a 2 tiered one of inner city â¦ Here are my top 11 predictions for the housing market for 2022, 2023, 2024 and 2025: These 13 housing crash factors will shape the housing market. Many of the results of NJBIAâs 2021 Business Outlook Survey are what you might expect for such a devastating plunge of New Jerseyâs economy. Revenue losses were severe, with a whopping 76% of respondents experiencing decreased earnings through the first eight months of 2020 â including some deeper losses in healthcare and transportation. However, after a massive 44% month-over-month rebound in U.S. pending home sales in May and another strong 9.6% rebound in September, the U.S. housing market is stronger than ever! Jersey is 76% during this period. Thankfully, the Pelican State is not already among the U.S. states with the highest bankruptcy rates. Baton Rouge, Louisiana, is expected to see a housing market downturn of 2.3%, the worst in the nation, after the coronavirus pandemic. Youâre in luck. And we go even further than that, outlining our predictions through the year 2025! This thorough report on the US rental housing market for 2020 and 2021 offers stats, insights, and trends happening as we head toward 2021. "The CoreLogic Home Price Index registered a 4.3% annual rise in prices through June, which supported an increase in home equity," Frank Nothaft, chief economist, said in a press release. The Covid 19 shutdowns have impacted the rental housing market, yet prices have risen and look to rise further in the face of ongoing rental housing shortages, and a housing market that may cool. Check out the latest US stats, and discover when you should buy or sell. Knowing what's happening in the real estate market is a key factor in a successful transaction, whether you're the buyer, seller, or REALTOR ®. Looking for a real estate forecast for the next 5 years? Here are my housing predictions for 2021. Check this page each quarter for updates to the New Jersey Real Estate Market Forecast. Related: The Future of Real Estate Investing After the Pandemic. In this article, we break down these predictions for real estate investors to understand what to expect through the end of 2020 and into 2021. Housing Market Crash 2021: The housing reports are comprehensive assessments and predictions of US Housing markets drawing insight from NAR, CAR, Corelogic, Wall Street Journal, Freddie Mac, tradingeconomics, statista, and more industry sources. The housing market in New Jersey is about to get crushed. The exact figures, however, are less important than the explanation behind the expected drop. But recently, a number of housing and economic experts have issued their real estate market forecasts for the US. Another capital city will take a housing market hit heading into 2021. If this Housing Market Forecast is correct, home values will be higher in the 4th Quarter of 2021 than they were in the 4th Quarter of 2018. That's why NJ REALTORS ® has partnered with the MLSs in our state to compile the best, most comprehensive data available about the New Jersey housing market, powered by 10K Research & Marketing. 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