Friends and Clients,
Equity markets retreated, having the worst December since the Great Depression, state and local tax (SALT) deduction limits were imposed on homeowners, and higher interest rates and tighter lending standards reduced liquidity in the market.
Flying in the face of these challenges, affordable markets in Southern Hudson County soared, posting significant year-over-year increases in median house prices.
Conversely, increased property taxes and macro factors impacted localized premium markets with their median house prices retreating – Hoboken by 9% and Downtown Jersey City by 4%.
For more insights and information on new changes and developments throughout each of the eight key Hudson County markets, download the Q4, 2018 market report, courtesy of Pure Properties.
