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If you are buying it to live yourself, and you are completely sure that you wouldn’t loose your job or something.. I would say go for it.. it’s difficult to find your dream house! If you are buying for an investment, not the best time.
What neighborhood?
We are looking in the burbs (Radnor township) but literally impossible to buy good homes.. almost all of them go before they even come onto the market
We bought in radnor 4 years ago, and it was so hard to find a house. You have to move quickly and jump on any that fit the bill enough. So many of the homes in a reasonable budget require a ton of work too. Be willing to offer over asking if the house is what you want. We went just a little over asking, but it was enough to show how serious we were.
I would not recommend buying in the city. The housing market is going to take a huge hit from the riots, the surging crime rates, and the fallout from coronavirus. People are going to start leaving the city (including me). This could be offset by more people from New York and other high cost of living cities moving here, but who knows. I’m planning on moving to the suburbs next year, maybe this recession could ease some of the housing prices out there
It’s a seller’s market in the Tri-state suburbs right now. South Jersey, in particular, is seeing a 10% sale price increase in most “good” school district areas.
Next year they will be 10% below