The Burke & Co. Weekly Market Report for Avalon, Sea Isle, and Stone Harbor– Week Ending May 15, 2021
One week is a data point. Two weeks is a trend.
Across our three towns of interest (Avalon, Sea Isle, and Stone Harbor), we once again see new listings lead homes put under contract. This week the combined ratio is 3:2.
Over time, it will stands to be seen how home prices– which have already seen a very particular type of inflation on their own– will relate in comparison to price fluctuations on other goods and services. With many economists holding that inflation is broadly here now and that our economy is well-poised to see more, it becomes difficult to predict whether home prices might stagnate as other goods and services become more expensive or whether they might continue to follow the more general economic trend.
Real estate is considered a traditional hedge against inflation during inflationary economic times. It will be interesting to see how that dynamic holds in a market that some have argued is experiencing a bubble. After all, a bubble can be lifted by a rising tide around it.
If you are ready to start your plans to buy or sell, call us at our team line at 609-478-0333 or email [email protected]
And of course, take a look at all of this weeks new listings, under contract, and sold homes with these links.
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