The housing market is a favorite topic for the media these days. In general, the news coverage of the real estate market by New Jersey's media outlets has tended to focus on national trends. However, these news stories do not present an accurate picture of what is actually occurring here in the Garden State. There are many positive market forces contributing to the state's healthy residential and commercial real estate markets, including:
The exceptional employment opportunities afforded to New Jersey citizens draw people to the state.
New Jersey's 2006 median household income was $64,470 while the United States median was $48,451. According to the U.S. Census Bureau, New Jersey had the 2nd highest median income in the nation in 2006 (behind Maryland at $65,144).
Source: US Census Bureau
People want to raise their families in New Jersey because of the excellent school systems.
New Jersey ranked 7th in the nation in graduation rates (behind Nebraska, Wisconsin, Vermont, Iowa, North Dakota and Minnesota).
Source: Digest of Education Statistics, US Department of Education
New Jersey also has seen 8 out of 10 high school graduates enter college after high school according to the New Jersey Department of Education statistics from 2005-2006.
Source: New Jersey Department of Education
New Jersey's thriving tourism industry fueled by the Jersey Shore makes it an attractive place to live.
In 2007, tourism expenditures in New Jersey totaled $38 billion. In terms of economic value to the state, this number is $27 billion.
Source: NJ Tourism: An Economic Juggernaut, April 2008
So, call me and let's find you a new home.
From the NJAR website...Get The Real Story on Real Estate in NJ
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