![Here’s how much housing inventory has dropped in each N.J. county 2 A sign outside a house reads "sale pending"](https://www.nj.com/resizer/Cg5Idjy6324SslKMTxHi5I8tIe8=/1280x0/smart/cloudfront-us-east-1.images.arcpublishing.com/advancelocal/RRANOA36DVCVXDAASUC74ES5MQ.jpg)
Fewer homes are available for sale, which is a major factor driving the frenzied market.Elliot Njus/Staff
Historically low housing inventory and low interest rates have combined to make the red-hot residential real estate market what it is today — frenzied buyers clamoring to snatch up the few available homes at any price.
The low interest rates are a byproduct of the pandemic, but the low housing inventory has been a trend for roughly a decade — though it was made worse by the pandemic.
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