Jan. 19, 2022
-- In November 2021, the median listing home price in Newark, NJ was $320K, trending up 4.9% year-over-year. The median listing home price per square foot was $204. The median home sold price was $335K according to Redfin.Newark Suffers Economic Stagflation
Development of Newark correlates with the witnessed economic stagflation:
a surplus of boarded-up, foreclosed homes, vacant land, abandoned buildings and the worst state to start a business as reported by WalletHub (https://www.foxbusiness.com/
2021). High prices in 2020 and low inventory have continued to cool sales throughout New Jersey with other business friendly (http://wyominginvestor.com)
states preferred and will the decline will only continue throughout Newark.
All that economic help that the Government is offering due to the pandemic is having a direct effect on the US inflation rate creeping in to 2022. Over the last seven months, inflation topped 5% and December even reached 7%. Watch house prices as this is going to be alarming!
Written by New Jersey Special Broadcasting Service | firstname.lastname@example.org