First time home buyers make up forty percent of the New Jersey Market. Interest rates are at an all-time low and buyers have a great selection of homes to choose from. First-time buyers are not held back by having to sell a home. It is the perfect time for them to buy.
This market presents the perfect time to trade up. Owners in need of larger accommodations may be wary of selling their current home. They need to keep in mind that an appropriately priced house will sell, and the other sellers will be entertaining more realistic offers as well.
A home builds long term wealth. The median price of homes has doubled in the last decade. This demonstrates that real estate is a stable investment and outperforms the stock market when it comes to long term wealth. NJ buyers that made home purchases seven years ago have accumulated in the area of $150,000 in equity.
A home is a nest egg and so much more. People buy houses to call their own. It not only provides financial security, but a comfortable place to hang their hat. A place to call home is the number one reason people purchase houses.
Statistically, New Jersey is a great place to live. The average median income in New Jersey is over $64,000 which is representative of the strong employment market. This is the second highest median income level in the entire nation. The school systems, proximity to various cultural attractions like NYC and Philadelphia make it a great tourist attraction.
Nine out of ten home buyers decide to work with a Realtor. New Jersey has over 53,000 realtors available to guide you through the home buying process. They can provide you with a thorough understanding of the buying process and the areas you are seeking to purchase your home in.