Fewer homes are available for sale, which is a major factor driving the frenzied market.Elliot Njus/Staff
Historically low housing inventory and low interest rates have combined to make the red-hot residential real estate market what it is today -- frenzied buyers clamoring to snatch up the few available homes at any price.
The low interest rates are a byproduct of the pandemic, but the low housing inventory has been a trend for roughly a decade -- though it was made worse by the pandemic.
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August 22, 2021 at 10:00PM
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Here’s how much housing inventory has dropped in each N.J. county - NJ.com
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