Expectations for 2020 is for the new-home construction market sales to increase 10%.

• Single Family Closed Sales were up 3.5% to 5,345.
• Townhouse-Condo Closed Sales were up 10.2% to 1,636.
• Adult Communities Closed Sales were up 20.0% to 515.
• Single Family Median Sales Price increased 11.2% to $332,500.
• Townhouse-Condo Median Sales Price increased 2.3% to $265,000.
• Adult Communities Median Sales Price increased 1.5% to $200,000.

We start off the year with continued low interest rates, low unemployment, and rising rents nationally.

These factors should encourage healthy buyer demand and sets us up for a strong start to the 2020 housing market and a lot of optimism for the coming spring market.

Click Here for the Downloadable Report from NJ Realtor.com