Although property owners along the Jersey Shore saw a significant decline in interest and property sales directly following Hurricane Sandy, real estate experts predict the market will eventually rebound to its former glory.
According to Delaware Online, despite the current lull that the Shore is experiencing, the area will likely rebound from the storm, regaining a significant portion of its draw to consumers.
Due to the immense losses caused by Sandy in the hardest-hit areas of the country, including New Jersey and New York, the draw of homes on the waterfront has somewhat decreased. However, property in the area is likely to follow in the footsteps of homes on the shores of Florida, Texas and North Carolina, and spring back to prosperity in the not-too-distant future, according to Lawrence Yun, chief economist for the National Association of Realtors.
Rental property management officials in the area who were debating selling their properties to find a safer location further inland should reconsider in the face of the potential incoming rental applications. In the summer months, vacationers are likely to return to the area to enjoy the fun and sun.