Morning Headlines: Winter Keeps Homebuyers Away From South Jersey

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Cold bursts may be a tiresome frustration for Philadelphians longing for spring, but in South Jersey the implications of cold weather are more concerning: The real estate market there is taking quite a hit.

The problem is that when it snows, potential homebuyers are less likely to go house-hunting at the shore. Other factors are at play as well, according to CBS Philly: “New Jersey’s job growth is behind the national average and mortgage rates have gone up.”

On the flip side, winter weather may account for the 20 percent rise in rentals this past year, perhaps because people think fondly of a beach vacation when they’re snowed in at home.

• Real Estate Market Lagging In South Jersey Due To Winter Weather [CBS Philly]

Meanwhile, in news elsewhere…

Clarke’s plan and why all affordable housing isn’t created equal [PlanPhilly]

Liddonfield changes coming [Northeast Times]

Census: Philadelphia population grows again, but rate slow []

Is Your City’s Street Grid Really a Grid? [Atlantic Cities]

7 Things Every Lease Agreement Should Include [Zillow Blog]

Jeffrey Miller Catering gets second look for The Willows, plan includes complete restoration [Main Line Times]

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  • matthew brandley

    O k idiots time to educate you all. Pending home sales are now at 3 year lows and that was just released yesterday. Motgage apps are now at 19 year lows. Home prices have fallen on avg the past 3 months across the country median price wise. The reason people are not and will not be buying is baby boomers are retiring in huge amounts and those who would be buying are saddled with so much student loan and credit card debt they will never be able to move out of the parents house. the college degrees they have are worthless since Obama and the epa have destroyed and regulated the crap out of everything. Its not the rising interst rates. Its everything I just told you.