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The housing market is hot for many reasons. Millenials are one of them. – NJ.com

illustration of a Neo-Classical townhomes feature grand, symmetrical facades with columns, pediments, and ornate moldings. They often have multiple stories and a central entrance. for the web, 2 story, 2 car garage
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real estate sign showing "sold"

A real estate For Sale sign reading Sold hangs on Bard Avenue lawn as home buyers gain strength amid an ailing market.Thursday July 12, 2012. (Staten Island Advance/Anthony DePrimo) Staten Island AdvanceStaten Island Advance

We’ve all heard about houses selling in days with multiple offers and bidding wars being the norm. But in the midst of a pandemic — and all its implications — it’s tough to understand why the housing market is so hot.

Experts tell NJ Advance Media the record home-buying spree is being fueled by low interest rates, a flourish of millennial buyers and urban flight.

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