Although it might feel like it, there will be no NJ real estate market crash in the near future! There is a lot of murmuring about the real estate market, the financial markets, crypto, mortgage interest rates, the Fed announcing it’s largest rate hike since 1994, the list goes on. I want to assure you – and I know that my fellow local agents will agree – there is still a healthy real estate market here in Basking Ridge and in the surrounding areas; the market is not going to crash. The real estate market is driven by supply and demand. Demand may wane a bit, but property values are not going to plummet. Supply might increase a little, but we aren’t expecting it to jump too high. Property values may not soar as high or as fast as they have in the last few years, but there will be continued appreciation – all predictions are indicating that to be the case through at least 2026. Watch my Spring Market update for a more detailed explanation of what you can expect from the real estate market!
