Average Prices: Newark House Price 2022

New Jersey Special Broadcasting Service Visit: www.newjersey.sbs
By: Wyoming Investor
 
Jan. 19, 2022 - PRLog -- 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/markets/best-worst-states-start-business-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 | publish@newjersey.sbs
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Tags:Housing Market
Industry:Home
Location:United States
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