Housing outlook for 2018 promises slow but steady growth
New home construction in South Jersey is expected to continue to increase in 2018 was the consensus of the panel of housing experts at the 2018 South Jersey Housing Outlook & Market Update on January 17, 2018 at the Mansion on Main Street in Voorhees.
Wayne Norris, Director of Business Development for Metrostudy, was the moderator for panel of speakers that included Quita Syhapanya, Metrostudy; Carol Ann Short, Esq, CEO - New Jersey Builders Association; Jeffrey Orleans, JP Orleans; Ken Schatz, Cohen Schatz Associates and Hans Lampart, Eastern Pacific Dev/Brookfield Construction.
Quita Syhapanya, Regional Director for Metrostudy, provided the details on the South Jersey new home market for the last quarter of 2017 and made some predictions for what’s ahead for the housing industry.
Metrostudy forecasts growth for South Jersey in the next 5 years after posting a +2% gain in new home starts to end 2017.
The growth potential is seen with a year over year growth of +12.2% in new lot’s developed in the market while also supported by the growth in the pipeline of over 37% since 2013.
Click here for a copy of Quita’s presentation.