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.
Meanwhile, in news elsewhere…
• Liddonfield changes coming [Northeast Times]
• Census: Philadelphia population grows again, but rate slow [Philly.com]
• Is Your City’s Street Grid Really a Grid? [Atlantic Cities]
• 7 Things Every Lease Agreement Should Include [Zillow Blog]