odallay OP t1_jdjr4k5 wrote on March 24, 2023 at 10:02 PM

Reply to comment by thedancingwireless in home prices in new jersey by odallay

okay so basically they keep going up and down?
I am under the impression that the prices that I am seeing right now on Zillow and stuff, won't ever go down but only go up.

thedancingwireless t1_jdjrb4f wrote on March 24, 2023 at 10:03 PM

I don't know why you got that impression. Over the long term, yes they will go up because land is limited. But over shorter time periods some will go down.

SnooWords4839 t1_jdjs7bq wrote on March 24, 2023 at 10:10 PM

Yes, if overpriced, they will go down some, but I think OP is thinking prices to go back to before 2020 prices, which I highly doubt. It's all about supply and demand.