Since the onset of the coronavirus pandemic, housing prices in New Jersey have soared, and homes have been flying off the market within days.
While today s heated market may call to mind a similar trend from the mid-2000s, experts say this time around there s no real concern about another mortgage crisis caused by recent sales demand for homes and the loans going to buyers are completely different today compared to 15-20 years ago.
The market may see a housing correction in the year or two ahead in the way of prices, but industry observers do not expect to see another bubble burst like the one that triggered the Great Recession in 2007.