We won't call a correction for New Jersey, partly because it isn't a market we track closely and partly because nobody can honestly promise where prices go. The framework, though, is worth having. The broader Northeast, New Jersey along with New York, New Hampshire, Vermont, Maine, and Maryland, has generally run on a persistent imbalance: strong buyer demand pressing against limited inventory. That setup produces bidding wars and pushes prices up, the same dynamic a lot of markets felt during the last run-up. The key is what a large correction actually requires. Meaningful price drops come from a wave of forced supply, sellers who have to sell, typically triggered by a real economic shock like mass layoffs. A shortage of listings is close to the opposite condition. As long as supply stays tight relative to demand, a big correction is unlikely, because the forced-sale supply that drives corrections simply isn't there. That can change if the local economy weakens enough to create forced sellers, or if inventory floods in for some reason, and those are exactly the things to watch: local inventory and local jobs. Ongoing bidding wars are actually evidence the imbalance is still in place, and recent price gains alone won't turn the market without one of those forces showing up. For the town-level read, lean on a good New Jersey agent.