New Jersey houses are currently selling for a record high, according to the National Association of Realtors.
The NAR, a trade group that represents real estate agents and brokers, estimates the median sale price for new homes in the state was $200,000.
New Jersey homes are currently at record highs, according the National Assn.
of Realty and Mortgage Professionals, a group that includes real estate brokers and real estate consultants.
That makes New Jersey home prices one of the highest in the country, according for the NAR.
In the past two years, New Jersey’s average home price has risen nearly 27% to $200.5 million.
The median home price for all New Jersey households in March was $206,500, according NAR figures.
New York City’s average price for a new home in March reached $259,000, up more than 40% from March 2016, according Zillow data.
Home prices in California have also climbed, and home prices in Atlanta, Houston and San Francisco have soared in recent months.
These cities are also home to some of the country’s most expensive home markets.
Home values in Los Angeles, New York, San Francisco, Miami and San Jose rose more than 25% in March compared with the previous month.
This is an excerpt from the August issue of The Economist.
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