Study Reveals New Jersey One of the Worst States to Sell Homes in America

United States Housing Sales fell to a 30-year low in 2024, marking the third straight year of a decline in Home sales in the US.  The National Association of Realtors reports that 2024 was the weakest year for home sales since 1995.

Median National Home Prices are at an all-time high of $407,500 according to the National Association of Realtors. In New Jersey, median sale prices for all types of real estate properties increased by 12.5 percent in 2024.

With a 13.4 percent increase in Single-Family Home Prices and a 13.9 percent increase in Townhouse-Condo Prices, Economists have declared that new homes are no longer "affordable" for most Americans, not just New Jersey residents.

The research team at ViewHomes conducted a study to find out which states have the hottest housing markets and which states are selling homes the slowest. They analyzed 150,000 property listings on Zillow to learn which states have homes with the quickest and slowest turnover.

How New Jersey Housing Market Compares To Other States

In a press release from the ViewHomes Team, they ranked New Jersey as the second slowest Housing Market in the United States.

Almost 40 percent of New Jersey properties are listed for 30 days or more. NJ's High Property Taxes and high cost of living are the primary reasons researchers point to why it is so difficult to sell homes in The Garden State.

The only state in which it is more difficult to sell homes is Rhode Island with 49 percent of the housing market listed for over 30 days. New Jersey neighbors are not far behind NJ's 39.68 percent of homes on the market for 30 days or more:

-29.73% of Delaware Homes Are On the Market for 30 days or more
-26.46% of Pennsylvania Homes Are On the Market for 30 days or more
-25.92% of New York Homes Are On the Market for 30 days or more

If you are in the market to buy a new home, you may want to consider living in one of New Jersey's most affordable towns: