Updated: Jun 20
April 22, 2023 | nj.com
Photo Credit: Mohamed Hassan (From Pixabay)
Temperatures have already started rising, but New Jersey’s sizzling real estate prices may see a long-awaited cool down this summer for parts of the state, according to a market forecast from Zillow.
Zillow’s home value forecast showed that about 60% of New Jersey ZIP codes they analyzed will see their typical home values depreciate this June.
NJ SEED: As the Federal Reserve continues to raise interest rates resulting in an increased cost of borrowing, the housing market will continue to cool from its overheated response to COVID.