COVID-19 threw the country for a loop and New Jersey got hit hard. Not a shock given that it’s the most densely populated state in the country. But resilience is key to surviving any trauma, and it’s how people recover from tragedy that counts. Real estate, for many, was part of that recovery process.
As people hunkered down for most of March and April, more space and fresh air became not just a desire, but an urgent need. Apartment dwellers (from New York and New Jersey) fled their cramped quarters seeking single family homes with more room and outdoor space. Others upsized to larger housing, believing working from home is going to be a more permanent way of life. Most homes sales were first-time home buyers, speeding up what might have been a one-two year time frame. For renters it was more temporary; they just wanted to get through a summer with no camp or vacations and see what the next year will bring.