New Jersey Taking Aggressive New Step to Lower Soaring House Prices

New Jersey is taking a statewide approach to tackling rising housing costs after Mikie Sherrill signed a new executive order designed to accelerate housing production and expand access to affordable homes.

Executive Order No. 17 directs agencies across state government to coordinate efforts to increase housing supply, reduce regulatory barriers, and identify opportunities to develop underutilized land. The move comes as officials acknowledge that demand for housing in the state has significantly outpaced supply, contributing to higher prices and limited availability for residents.

“We can’t make New Jersey more affordable without making housing more affordable,” Sherrill said. “With this Executive Order, we are aligning every tool at our disposal to accelerate housing production and make it easier for families to put down roots in the communities they love. Signed within our first 100 days, this action underscores our commitment to lowering costs, strengthening communities, and delivering real results for New Jerseyans. Because when we build more housing, we open the door to opportunity for everyone.”

The order establishes a Housing Governing Council that will bring together key state agencies, including the Department of Community Affairs, the Housing and Mortgage Finance Agency, the Economic Development Authority, and NJ Transit, to coordinate policy and streamline development processes.

As part of the initiative, state agencies will conduct comprehensive reviews of regulations, budgets, and available land to identify ways to speed up housing construction and reduce costs. The administration is also placing an emphasis on developing surplus state-owned property and improving access to affordable and workforce housing.

A series of deadlines built into the order will culminate in a set of formal policy recommendations expected in September, outlining long-term strategies to increase housing production, improve affordability, and expand access to housing opportunities across New Jersey.

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