The #1 Housing Shortage in America (that No One Is Paying Attention To)

Why It Matters

The imbalance between plunging supply and sustained demand is pushing affordability lower and could exacerbate regional housing instability, pressure commuting patterns, and influence policy debates on zoning and supply-side measures. Continued rapid appreciation also presents risks for buyers, lenders and local governments reliant on property-tax-driven revenues.

Summary

New Jersey is experiencing one of the nation’s most acute housing shortages, with active listings plunging about 62%—from roughly 42,000 homes for sale in April 2019 to 16,000 in April 2026—fueling widespread bidding wars across commuter counties like Bergen, Essex and Middlesex. Despite higher mortgage rates and the nation’s steep property taxes, home values in the state have risen about 22% over the past four years, making New Jersey the second-fastest-appreciating market in the U.S. Real-estate analytics firm Reventure projects prices could climb another 10% in some New Jersey areas through 2027. The shortage is tightening inventory and driving outsized price gains in bedroom communities serving New York City.

Original Description

The number of homes for sale in this state is down 62% from the pre-pandemic.https://www.reventure.app/mobile

And there's a massive shortage raging.

Bidding wars are still common place, and prices could go up to 10% in some ZIP codes in this state into 2027.

Homevbuyers and investors should expect bidding wars.

Track the data on Reventure Mobile to see New Jersey's 2027 housing market for forecast for your ZIP code.

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