Here on the beautiful S Jersey shore prices have not moved a whole lot.
The biggest change (and it is very big) is how difficult it is to qualify as a tenant.
As near as I can figure, (and this is just a guess based on anecdotes)
something(s)about the COVID days created a large class of people who are willing to stop paying their rent and face eviction, at least, landlords believe that.
Landlords have not responded by saying “Well I’ll just raise the rent and take the risk,” they have responded by rejecting tenants.
I think I remember now, you’re in Cape May? I would love to live there. I collect Tolls in Bordentown. Way too far for me. If I transfer to the Parkway I can pull it off. But that’s not easy to do.
I don’t blame the landlords one bit. Were the Landlords given mortgage relief during that time? They had to be, right? Or else I don’t know how you can do it. But even if they were, you still have to pay that money at some point. You don’t have a choice. Renters can just skip. Then you have to chase them down.