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Trending News:U.S.-Iran Talks Timeline: Key Moments Between Two AdversariesScientists finally crack mystery of rare COVID vaccine blood clotsWATCH: School board member censured after putting arm around female studentAstronauts hoisted by helicopter from splashdown siteIBM settles its DEI lawsuit with the DOJ for $17 millionAir Jordan 10 Retro ‘Red Steel’ 2027 Release DateUS-Iran Officials Begin Talks With Pakistan on Ending WarIn European first, the Netherlands set to allow Tesla owners to self-driveStar Wars’ Maul actor reveals what the Emperor really did to the Sith lordIPL 2026, LSG vs GT 19th Match Match PreviewThis Is What We Notice About Passengers ImmediatelyLiberal party adopts motion to restrict kids from social mediaResolution reached on messy dressing room dispute, Soo Jr. Greyhounds to compete for league titleThe Absolute Best Horror Movies on HuluVance and envoy arrive in Pakistan for talks with IranPeru holds presidential election amid a decade of political tumult | Elections NewsYour nose could detect Alzheimer’s years before symptoms beginBank of Canada, Major Lenders Met on Anthropic AI Cyber RiskShooting and stabbing at New York’s Grand Central station leave two people critically injured | New YorkJournalist helped defeat New York City's pinball banGoogle says Polymarket bets showing up in News was an ‘error’Politics and its Discontents: Spectacle AboundsNew York, Washington set to swelter in record heat next weekShohei Ohtani breaks Ichiro’s record, reaches base for 44th consecutive gameTo Stand Out, This TTRPG Podcast Network Chose The Risky Route Of Avoiding D&DShop The Best Zara French-Girl Items This SpringShaquille O’Neal on the NBA dunk contest: ‘It’s been sucky’Calif. governor candidate accused of sexual assaultPro-Iran Explosive Media trolls Trump with AI-generated Lego cartoonsDubai Cuts Foreign Airlines To One Daily Flight While Emirates Flies OnWhy the Nato alliance is not as likely to dissolve as Trump makes it seem | NatoA 67-year-old “crazy” theory about vitamin B1 has finally been provenUS-Iran talks begin in Pakistan as war’s fragile ceasefire holds – NationalU.S. Intelligence Shows China Taking a More Active Role in Iran WarLiveblog: Carney to address convention as Liberal supporters to vote on party positions, policy resolutionsIN PHOTOS | Orthodox Easter arrives in TorontoZuvi ColorBox Review: A Hair Dye Printer That StrugglesIs Louisville basketball big Vangelis Zougris in NCAA transfer portal?Abu Dhabi Royal’s Firm to Buy Stake in Caring Hospitality EmpireHow Baki-Dou: The Invincible Samurai Will Continue in a ‘Very Scary’ Part 2Overlooked No More: Margaret Gipsy Moth, Fearless CNN Camera OperatorTrump reportedly says he’ll issue mass pardons at end of his presidential term | Donald TrumpUnusual airborne toxin detected in the U.S. for the first timeNvidia-backed SiFive hits $3.65 billion valuation for open AI chipsA Beauty Editor’s Review of Isdin’s Multitasking Water SPFWe Already Have A Permanent Citizens Assembly'Malcolm in the Middle' is back for more mischief. We rank 10 other TV reboots from best to worstFly To The World From These 19 Local AirportsThe housing market is shifting toward buyers. Just not in New Jersey.WATCH: Former astronaut on readjusting to life on Earth'A big punch on the face' – ArtetaLebanon mourns security forces killed in Israeli strike | Israel attacks LebanonU.S. and Iran began negotiations Saturday to end Middle East conflictASUS ZenBook A16, AirPods Max 2, Sonos Play and LG Sound SuiteTwo simple eating habits linked to lower weight, study findsOf All Things, Animal Crossing (And ‘FOPI’) Has Made Me A Switch 2 EvangelistCarney to address Liberal convention on final day – NationalNew York, Washington Set to Swelter Under Record Heat Next WeekHow to Build Better Digital Twins of the Human Brain19-year-old woman dies after being attacked by a dog in Essex | UK newsResidents of Vernon mobile home park without power indefinitelyLatest details in disappearance of American woman in Bahamas after husband’s arrestWhat the DOJ’s NFL investigation could mean for networks, fansHere’s What Pilots Notice First When Switching Between The Airbus A350 & Boeing 787 Cockpits3 Spring Trends to Shop in April 2026 From ZaraEarly weight gain is linked to lifelong health consequencesPeru election highlights lack of plans to tackle illegal mining despite growing environmental crisisTories would reinstate two-child benefit cap to fund defence, says Badenoch | ConservativesWatch a Robot Stuff Cash Into a Wallet Just Like You DoThere is a new narrative from haters,” Off the Grid studio boss says of accusations Gunzilla haven’t paid workers on time, claims full-timers’ salaries “have never been delayed by more than a weekPolice responded to a report of a ‘domestic dispute’ at Ohio governor candidate’s home in 2019Monthly ReportPeru election highlights lack of plans to tackle illegal mining despite growing environmental crisisYou don’t have to spend more than $50 on a great USB-C dock for your Switch 2Warren Seeks US Probe of ‘Suspicious’ Wartime Oil TradesCanadian travellers will face travel challenges due to oil shockPunjab Kings v Sunrisers Hyderabad – IPL scorecardHow college students who study war view Trump’s Iran tauntsArtemis II Astronauts Return to Earth After Historic Moon MissionHow The F-16 Stacks Up Against The MiG-35 In 2026Al Jazeera’s Diplomatic Editor outlines key issues in US-Iran talks | Show TypesThe Curator: The best natural ways to help manage allergies this spring – NationalWhat leaked “SteamGPT” files could mean for the PC gaming platform’s use of AIA character model datamined from Grand Theft Auto 5’s source code ‘could actually be Agent’s protagonist’, according to online sleuth28 Spring Buys Straight Out of Slim Aarons’ Palm SpringsTitanPlay Highlights Early-Stage Approach to Responsible Gambling in OntarioFirst Nations’ court challenge may block Alberta separatism itself, not just petition drivePSL 2026 – Lahore Qalandars’ Parvez Hossain Emon out of season with injuryVP Vance Arrives in Pakistan for Peace Talks Between US and Iran‘Crimson Desert’ Is a Cat Dad SimulatorJubilant return of Artemis II shadowed by ‘extinction-level’ cuts to Nasa: ‘It’s discordant’ | Artemis IIUK starts crackdown on EU citizens’ post-Brexit rights | BrexitHere’s the Story of the Brady Bunch HouseHow to avoid 2 troubling new retirement trendsDoug Ford's government has sent mixed signals about the planned height of this controversial Oakville condo project. Here's why residents are concerned‘It has your name on it, but I don’t think it’s you’: how AI is impersonating musicians on Spotify | AI (artificial intelligence)Coming This Summer: KLM’s First Airbus A350 Enters Final Assembly In ToulouseWhy experts fear AI could tip the scales toward hackersIpswich double lead at Norwich, Coventry aiming for PL | EFL on Sky LIVE!Phantom Blade Zero rejects generative AI
In most of the country, it’s getting a little easier to buy a home this spring thanks to growing inventory and stalling price growth.
But for buyers in New Jersey and a handful of other parts of the Northeast, the strong seller’s markets of the low mortgage rate days never fully eased. There, bidding wars are still commonplace as inventory remains extremely limited. And home price appreciation is still tracking above inflation and wage growth, making it harder for first-time buyers to save enough to enter the market.
The stiff competition in the Garden State, at a time when more regions are beginning to favor buyers, is a reflection of enduring demand, limited new homebuilding, and the state’s higher-than-average incomes.
“It’s still not a balanced market here at all,” said Melissa DeSantis, a broker associate and managing broker with REAL Broker in Freehold, N.J.
Northern New Jersey has long been a competitive and expensive place to buy a home, sought after by New Yorkers seeking more space and easy commutes into the city. For the more budget-conscious, the advice was typically to head farther south.
Lately, even going south is no guarantee of a better bargain. Competition in places like Monmouth County, in the middle of the state, and farther down into the Philadelphia suburbs is also intense.
DeSantis, who works in Monmouth County, said she saw a surge in interest in her area from New Yorkers seeking more space, strong schools, and shoreline access during the pandemic. That interest never really died down, which she attributes to the appeal of those lifestyle factors and the area’s numerous commuting options to New York.
Read more: How to get the lowest mortgage rates right now
A drone shot of houses in Freehold, N.J., in summer. ·Wirestock via Getty Images
Lately, larger, more expensive homes have moved particularly quickly.
“You’re seeing a lot of frustrated local move-up buyers because they’re competing with New York buyers,” DeSantis said. “And it seems like the New York players are coming here with suitcases of cash.”
Ted Koczon, a real estate agent in Red Bank, N.J., an hour south of New York, said recent economic uncertainty and higher mortgage rates are likely giving some buyers pause. But in many neighborhoods, bidding wars are still common. He recently saw a $2 million listing in nearby Holmdel, N.J., garner 20 offers, including one for $400,000 over asking price — in cash. Another $1.5 million listing ultimately went for $200,000 more.
Read more: Home ownership by generation: How housing trends differ across Gen Z, millennials, Gen X, and boomers
“I think it will still be a strong spring season,” Koczon said. “The demand is strong. There are a lot of people who are ready to go.”
Addie Meyer, 31, has been looking for a home in Rumson, N.J., the Monmouth County town where she was raised and hopes to one day raise a family of her own.
There, few homes are available for under $1 million, and listings typically go under contract in a matter of days.
She recently fell in love with a home on the market and, wanting to be competitive, offered $150,000 over its list price. Ultimately, the sellers received 10 offers, and hers ranked somewhere in the middle. The highest ones offered more than $400,000 over.
“In Monmouth County, that is unfortunately the reality right now,” Meyer said.
When she posted online about her house-hunting frustrations, comments from struggling buyers across the state poured in.
“In all of New Jersey — North and South, central — it feels impossible to buy a home right now,” Meyer said.
Closer to Philadelphia, home prices tend to be lower, but they’re rising fast.
In Mercer County, N.J., home to cities like Trenton and Princeton, prices were up 5.2% in the past year to a median of $426,000, according to Bright MLS data. Home prices in the nearby counties of Burlington and Gloucester were up 4.9% and 4.6%, respectively. All of those areas had less than 2.5 months of supply, far below the four to six months that typically signal a balanced market.
“Inventory tightness in the Philadelphia market is really key to why those suburbs of New Jersey are so hot right now,” Bright MLS chief economist Lisa Sturtevant said.
Deisy Cerdan is hunting for a home in Marlton, N.J., and was shocked to see a home in the neighborhood where she rents listed for $625,000. A few years ago, it might have fetched half that.
She and her husband, an electrician, bought a home in nearby Somerdale in 2017 and sold it three years later to address personal and financial problems during the pandemic. Though they profited on that sale, getting back into the market now feels daunting.
“He’s 38, and I’m 35, and we feel like we’re two college students that just graduated who are like, ‘How are we going to buy a home?’” said Cerdan, who works as a teacher.
Though their money could stretch further in some nearby towns, staying in Marlton to provide continuity for their 10-year-old son is a priority. The community is a sought-after place to live — last year, Realtor.com ranked it the second-hottest ZIP code in the nation — and listings are snapped up quickly.
Cerdan hopes to buy another single-family home with a garage where her husband and son can play the drums. A few years ago, that would have been doable, but now their budget may only cover a townhome.
“Now, you’re getting 1,700 square feet for $450,000,” she said. “It’s a joke.”
Claire Boston is a Senior Reporter for Yahoo Finance covering housing, mortgages, and home insurance.
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