Although the New Jersey unemployment rate remains unchanged for the third month in a row at a favorable 4.1 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace.

Residents of Barnegat Bay in New Jersey know a thing or two about flooding. Superstorm Sandy brought record storm surge and tidal flooding into the area in 2012. It's a problem a lot of residents of coastal areas have to always worry about in the back of their minds. It's why they also have to have flood insurance separately from their homeowners policy, which doesn't cover flooding.