Hunterdon County’s Real Estate Market Conditions November 2019

Residential Real Estate

Hunterdon County's Real Estate Market Conditions January 2019

Hunterdon County’s Real Estate Market Conditions November 2019

Get ahead of the residential real estate market drivers in Hunterdon County, New Jersey with Coldwell Banker Residential Broker sales associate, Joe Peters. Joe’s monthly report walks people through the economic conditions and trends that influence our local markets.  You will come away knowing what is happening and more importantly, why it is happening. As a result, you will be better informed to make home buying and selling decisions.

What is happening

Based on the last full month’s contract sales, statistics show a supply of approximately six months. Normal market conditions average four to six months in Hunterdon County.  Units going under contract averaged 72 days on the market. 147 properties went “under contract” in October, up from 105 in the prior month. Newly listed properties in the same period totaled 212.

Hunterdon County Inventory Breakdown By Price For Last Month:

October October Total  
Hunterdon County New Under Active Months’
Listings Contract Listings Supply
Condos/Town Houses * 44 36 130 4
Over 55 Communities * 7 2 18 9
$000K to $199K 20 27 66 2
$200K to $299K 33 30 106 4
$300K to $399K 36 29 128 4
$400K to $499K 35 23 150 7
$500K to $599K 33 17 155 9
$600K to $699K 26 9 95 11
$700K to $799K 15 3 64 21
$800K to $899K 5 2 31 16
$900K to $999K 4 2 26 0
$1,000K and Up 5 5 60 12
Totals for October 212 147 881 6
Average Price $482,493 $430,183 -10.8%
Average DOM   72
* Included in $ breakdowns
  • 74% of sales in houses < $500,000
  • 26% of sales in houses > $500,000
  • 08% percent of total sales (or 12 in total) in houses >$700,000

Hunterdon County Inventory Breakdown By Municipality For Last Month:

  Active Listings Under Contract Month’s Supply
Alexandria Twp. 51 6 9
Bethlehem Twp. 35 7 5
Bloomsbury Boro. 7 0
Califon Boro. 9 1 9
Clinton Town 15 2 8
Clinton Twp. 61 20 3
Delaware Twp. 44 2 22
East Amwell Twp. 22 5 4
Flemington Boro. 12 2 6
Franklin Twp. 30 2 15
Frenchtown Boro. 11 1 11
Glen Gardner Boro. 15 3 5
Hampton Boro 8 4 2
High Bridge Boro. 21 4 5
Holland twp. 27 6 5
Kingwood Twp. 29 2 15
Lambertville City 35 5 7
Lebanon Boro. 7 0
Lebanon Twp. 47 10 5
Milford Boro. 10 1 10
RaritanTwp. 131 25 5
Readington Twp. 93 19 5
Stockton Boro. 7 0
Tewksbury Twp. 101 11 9
Union Twp. 40 6 7
West Amwell Twp. 13 3 4
Totals 881 147 6

Three areas in Hunterdon County reported no sales reported in the past month:

  • Bloomsbury
  • Lebanon Boro.
  • Stockton

Eight areas reported 1 or 2 sales each last month:

  • Califon
  • Clinton (town)
  • Delaware
  • Flemington
  • Franklin
  • Frenchtown
  • Kingwood
  • Milford


  • Clinton/Clinton Township – 22 sales
  • Raritan Township – 25 sales
  • Readington Township – 19 sales

Hotspot areas equaled 45% of the sales last month. The average new listing coming on the market last month neared $482,493. The average price of a unit going “under contract” neared $430,183 (11% less).

Note: To get an accurate price point for your property based on its location and price point, contact me at (908) 238-0118. Coldwell Banker’s big data technology capabilities will put you at a unique advantage. I can show you the latest age and earnings breakdown for your particular area, show you where people are moving into that area from and how I can market to those specific areas and demographics directly. The result is in you receiving the maximum selling price with a shorter time on the market.  Houses priced and marketed accurately sell faster, especially with a real estate industry veteran and local expert, helping you navigate the process.


Why it is happening

New Jersey’s Economic Drivers:

New Jersey Home Sales:

The still low inventory numbers lead to a bit of softening in the price appreciation on existing homes and a slowdown in growth. It is turning the tide back to a buyers market (or at least neutralize it to being a normal market).

We saw an increase of 12% in sales in September and year to date; we are ahead of 2018 by 4%.  While this is not state-wide, 18 of the 21 counties have benefited with an increase in sales.

Increases in inventory have occurred in all price points above $400,000 with the $400,000 to $600,000 range seeing the largest jump (+4%) followed by the $600,000+ with very slight increases.

The under $400,000 range saw a 13% drop in inventory.

Activity still concentrates in the under $400,000 market where Millennial buyers are transitioning into homeownership.  But, this price point only saw an 8% increase vs. 2018 YTD due to lack of inventory.  The $400 to $600K range also saw a little under 1,500 increase in units sold YTD while dropping 13% in inventory levels.

During the same period, all housing sales above $400,000 and below $1 million showed very modest increases showing confidence in the changes made on taxes and deregulation. There has also been an improvement at the very high-end in towns where rail service to Manhattan is available.  Houses above $1 million showed a small increase as well.

At the same time, the number of homes offered for sale in New Jersey remained low. Currently, ~31,000 fewer homes (-46%) are on the market compared to the 2011 peak.

Current unsold inventory in New Jersey varies widely by county with only 3.2 months in some and none being above 8.0.  The state is averaging just over four months.

We still have an acute shortage of inventory in both Hunterdon and Somerset County in our more popular price points and locations.

Hunterdon and Somerset County have about 5% & 16% less inventory than we had a year ago, respectively, and the inventory is 6% less in Hunterdon & 17% less in Somerset as compared to 2 years ago.

The market has changed from a seller’s to a buyer’s market above $500K market due to the additional inventory coming on to the market affecting the selling prices for those properties.

Also, we are now seeing some millennials coming back into our local markets with 26% thinking that it is the right time to buy (good news).


Interest Rates:

Interest rates have risen slightly over the last month.

The economy is strengthening, and Interest rates have fallen in recent weeks to just over 3.75% for a 30-year conventional mortgage. A fifteen-year conventional mortgage rests at just over the 3.18%  mark. Five-year arms are just under the 3.40% range.

Consumer fears of further rises in interest rates and slowly rising home prices are driving the current market demand. The Fed has made several downward adjustments, and more may still be in order.

The fear of increasing interest rates, coupled with steadily increases in prices, is still driving the current market activity.


National Job Front:

On the national level, the US added over 2,700,000+ jobs in 2018.

US unemployment rate in September came in with 136,000 jobs added.  And unemployment dropped to 3.5%.

At the end of September, there were 7.1+ million openings compared to nearly 6.0 million unemployed persons.


New Jersey Job Front:

NJ added 39,000+ jobs in 2018 as compared to 47,100 for the same period in 2017.

The NJ unemployment rate fell to 3.1% (the lowest it has been on over ten years), bolstering consumer confidence in NJ as well.  In effect, NJ is rising with the national tide of nearly full employment.   Based on the first nine month’s results for 2019, the state is on course to add 55,000 jobs, which would be nearly a 40% gain over 2018.

The level of jobs created has been at consistently higher levels than in the past several years (a silver lining as these additions to our job market will be able to afford to buy houses eventually).

It also should be noted that these jobs are mostly in the northern half of the state.


Rental Market Trends:

We have seen an 11 year high in rental availability,

Rental prices in New Jersey rose nearly 5% in 2018, averaging just over $1,600 per unit. Current vacancy rates in New Jersey have held at 2.7% in central NJ.

The drop in New Jersey’s homeownership contributes to rental demand.  A 12+ year trend shows a decrease from  71% to 66%.  This 7% decrease compared to an 8% national decrease contributes to the slower recovery of home prices in the state and adds over 20,000+ additional renters in our state. However, the 71% level resulted from the loose lending standards of the early 2000s and is actually at a good level.  Households with no children stand at 65%, reflecting the decline in our school population.

One article states that the average homeowner who is 65+ has an average net wealth of over $318K, while the same for a renter is only just under $8K.  It also offers a stable place to live, an evident hedge against inflation, and a way to build wealth (a strong argument for homeownership).

However, the number of renters has increased by 7% over the past 25 years, with the less educated leading the way.  And, we are now seeing more educated millennials moving east into higher rent and cost of living areas that eat into their discretionary income (including savings).  It makes one wonder where this all is heading.

The pace of new rental construction has increased to meet this demand and now seems to have caught up.


New Jersey Foreclosures:

New Jersey continues to face falling foreclosure rate filings dropped to  2.1%. Other states have begun to, or already have recovered. In a tight real estate market, these foreclosures sell at a small discount.

Note: Figures vary by the local market, especially those walloped by Hurricane Sandy three years ago and rural and urban areas. We rank #5 in the country with 2.1%, led by NY with 2.7%, MS with 2.5% (mostly hurricane-related)  LA with 2.4%, ME with 2.1% and trailed by FL, DE, MD, PA, and AL.  The national baseline number sits at a little under 1.3%.

Foreclosures in NJ in 2018 were the lowest in the state in over four years.  And, 2019 looks to be even better with a forecast of under 40,000 foreclosure filings.


Real Estate Market Recap

Economic conditions:

  • Nationally, 2018 was the eighth straight year of 2 million + job gains.
  • We are now in our longest economic expansion period in America’s history with 100+ months of positive job gains.
  • The GDP is still rising (although its rate of increase seems to be slowing).
  • At 3.1% unemployment, NJ is now near to the national average, which is currently at 3.6% & leading economic indicators in NJ are now surpassing the nation by almost two-fold.
  • The best paying and most attractive jobs are in NYC, pulling many of our millennials in that direction (although this trend is diminishing).
  • And, wages are up 3.2% at the same time.
  • Interest rates have increased to just under 3.75%.
  • And, house prices have risen around 3+% in the more popular housing price points and areas further exasperating the situation (although this appreciation now appears to be slowing).
  • Baby boomers who were choosing to “stay put’ and update rather than “move up” to their dream house as it is no longer considered a sound investment (and a lot of times inventory is not available) which is causing most of the housing shortage are now finding available inventory.  This situation has loosened up as many new listings have come on the market over the past few months.
  • And there is still little entry-level construction going on in our area, just larger homes and new rentals.
  • As a result of the previous two points, we are experiencing the current housing inventory shortage (the shelves are empty in our starter housing price points).
  • And, some empty houses are starting to appear at out higher price points.
  • Foreclosures rates continue to decline (or normalize).
  • There is continued confidence as the new tax and jobs act further stimulates the economy with more jobs as the economy remains robust.

Changes in lifestyle:

  • The average age at marriage is now in the mid to late ’30s (up seven years from just a decade ago).
  • Families usually have only one to two children due to costs and the ability to choose.
  • 70% of all NJ homes have no children of school age, and 50% do not have more than one person in them. This factor minimizes the need for larger housing not only in NJ but everywhere.
  • As a result of job opportunities, buyers are gravitating to areas within 15 miles of NYC with good mass transportation systems.
  • 80% of consumers still perceive homeownership as part of the American Dream.  It is just what they want to buy (or rent) that has changed.
  • Builders have been thinking larger 4 BR center hall colonials on 1+ acre in the country (based mostly on local building codes).
  • Buyers are thinking of smaller luxury hi-rise close to mass transportation and work in the east (truly a mismatch).
  • 60% of all new housing starts in 2018 in NJ were in the rental sector.

Market conditions:

  • We experienced a sales slump in late 2018 due to interest rate hikes. But the first half of 2019 made up for it by being the best we have seen, and the 2nd half is also promising.
  • It appears that we are now entering the next phase of the housing cycle, which is still active, just less robust in price appreciation.  Sort of a cool down from 2018. Or, maybe back to normal.
  • And, we see some warnings of an economic slowdown starting in 2020 and beyond.
  • However, these warnings are not holding back sales activity.  We may see fewer sales and less price appreciation as a result.
  • The effect on housing is seen to be limited to curtailing the growth of price appreciation and not in any loss in value.
  • But, in general, homeowners are sitting with more equity than ever (NJ reports 95+% with positive equity) and are no longer using their homes as an ATM.  So, the effect of any slowdown on housing should be minimal (if at all).
  • Consumer confidence remains high nation-wide based on the job and stock market increases.
  • Most consumers still see homeownership as a sound investment.
  • There is a bit of offset to this encouraging news from the discord that we see in our national politics and trade policies.
  • This confidence is reflected in buyer traffic being up at open houses.  However, with a lack of inventory in our lower price points, there are fewer houses for sale.
  • Affordability will never be in this good of shape as interest and price increases start to eat into what you can afford.
  • Millennials make up about 35% of our current homeowners with much more room for expansion at the lower end of the market when adequate inventory supply materializes.
  • Central New Jersey’s trend in early 2019 shows an increase in home sales, but price increases only in houses clustered in < $400,000 market where the first-time buyers and Millennials are focused.
  • The >$400K market holds diminishing slightly due to a lack of inventory.  We have seen additional new inventory in the $400K to $600K range.
  • Minimal new construction, lack of entry-level new housing, and COAH restrictions add additional value to the current inventory.
  • The five-year forecast indicates slow but steady price growth (but at reduced rates) at an annual average of 2 to 4% (depending on location and price point).  This price growth will remain higher in the under $400K market. And, little depreciation is being forecasted except in the higher-end inventory.
  • There is an acute shortage of inventory in both Hunterdon and Somerset County in our more popular price points and locations which is holding back even more sales.  In general, we have only about 65% of the inventory that we had in 2011 but are selling current inventory at faster rates.
  • It is simple; we could sell more houses if we had more inventory on hand,  And, as we have started to see small inventory increases over the past six months, 2019 can be a boom for resales.
  • In 2018 prices rose ~ averaging just over 3.5% and depending on price points and locations.  2019 promises to be more normalized with at least 3% growth in prices.  But it depends on your price point and location. The following two years will also see less in % but should still show modest positive growth.
  • Mortgage delinquency is normalizing.



  • The economy will continue to prosper with no recession currently in sight for the next 12  months.  And, there most likely will be only a slowdown impact on the rate of price appreciation if this happens.
  • Prime Interest rates have dropped three times already this year.
  • Home prices will rise by an average of another 3% during that same period (this will depend on your price point and location), further decreasing buying power. And, the most bullish projections show at least a 7% increase over the next few years.
  • While improving, supply will remain tight in the more popular price points in the residential real estate.
  • Many new jobs seem to be resulting from the Tax and Jobs act (look at the help wanted signs).
  • For the first time in memory, the US is reporting 7.1+million open jobs and only 6 million unemployed.  We are at full employment if you consider that 3% of unemployed is the normal level.
  • We now need to match the skills of the unemployed to the job openings to prosper further as many four-year degrees currently being obtained, are not useful in the current job market. It has also opened up the need for inward migration of workers to the economy.  In some areas, this is happening via people immigrating from outside of the US to areas with the skills needed to fill open positions.
  • The affordability index shows that there is room for much more sales; all we need an increase in inventory.  The most affordable time to buy appears to be now!.
  • Some high-end fall-out has resulted in the residential real estate from the SALT and mortgage interest changes in the Tax and Jobs act.
  • The commercial real estate market is flourishing as a result of creating more buying demand.
  • People in their home > 10 years have very positive home equity built up, and a more significant portion of payments applies to principle.  Increases in selling prices should eventually motivate people to make changes in their lifestyle by investing in summer homes or even start a new business with the extra equity cash.
  • And, thirty-seven percent of all homes in the US have no mortgage at all.
  • Small investor activity in the market is up.  In many cases, these are flippers buying-low end unsaleable inventory and bringing it up to marketable status.

Note:  Presented as a public service by Joe Peters of Coldwell Banker Residential Brokerage. I took reasonable precautions in presenting this information. Please consult with a professional sales agent and take no actions based on my opinions, gathered trends, and statistics.  I assume no liability. You can contact me at (908) 238-0118.


You can ask me a question or request a monthly copy of this newsletter here.






Hunterdon County Real Estate Conditions

Hunterdon County’s Real Estate Market Conditions – as of June of 2017

         Hunterdon County’s Real Estate Market Conditions – as of June of 2017

Hunterdon County May sales active with 236 homes sold 


Below are the latest Hunterdon County’s Real Estate Market Conditions – including

Clinton Township, Flemington, Raritan Township, Readington Township and the Town of Clinton

This information is provided by courtesy of Hunterdon County Realtor Joe Peters.

In May of 2017, 236 properties went “under contract” in Hunterdon County, up from the 194 “under contract” properties in the prior month. During that same period, 306 properties were newly listed.  As a result, statistics compiled show an overall current supply of about 4 months (4 to 6 months is a normal market) for Hunterdon County, with an average of 60 days on the market for the units that were sold.



Sales broke down as follows:

  • 74 percent of sales were in houses under $500,000
  • Leaving 26 percent of sales were in houses more than $500,000
  • And, only 5 percent of those sales (or 12 sales) were in houses more than $700,000

Only one area in Hunterdon County reported no sales at all in the past month:

  • Bloomsbury

And, these four areas had only had one or two sales each last month:

  • Frenchtown
  • Lebanon Boro.
  • Milford
  • Stockton

At the same time, there were the several usual hot spots:

  • Clinton/Clinton Township with 33 sales
  • Raritan Township with 45 sales
  • Readington Township with 28 sales

These three areas combined for 45% of the sales in Hunterdon County last month. The average new listing coming on the market last month was at nearly $502,417 while the average price of a unit going “under contract” was at nearly $413,244 or 18% less.

Note:  In order to get a true picture of the status of your particular property, this needs to be done by price point within your specific town.  I do this as part of my research when listing a property and can do it for you.  I also can show you how the market is trending for your particular town.  Just give me a call.

Houses that are priced properly are selling. There is a current market for them with many active buyers. But more than ever, buyers and sellers need to be working with an experienced agent who has a strong grasp of the market conditions specific to your local area. I can share information on all of these statistics with you. Just call me at 908-238-0118. I can offer you knowledgeable and proven advice based upon my more than 20 years of experience, with a special emphasis on Hunterdon County.

Other conditions impacting sales in our area are:

New Jersey Home Sales:

Home purchase demand declined by 7% in New Jersey during April after 31 months in a row of increases. This is tied to the limited number of homes on the market and these figures run about a month behind.

Activity has been most widely seen in the under $400,000 market where the millennial buyers are most active as they transition in to home ownership.  During the same period luxury housing sales showed a slight increase showing confidence in the new administration’s plans on taxes and deregulation.

At the same time, the number of homes being offered for sale in New Jersey, has remained low, and has recently decreased.  The supply has decreased by some 7,100 homes as compared to a year ago or minus 14%.  And, there are currently 29,000+ fewer (-40%) homes on the market in New Jersey than there were at our peak in NJ in 2011.

The current unsold inventory in New Jersey sits at just under 4.2 month vs. 4.6 months a year ago. Hunterdon County has almost 12% less inventory than just a year ago.

Current increasing interest rates (combined with the fear of higher interest rates in the future) combined with the Fed’s slightly loosening lending standards seems to be driving the current market activity.

At this point, it looks as if 2017 is off to a good start (even with last month’s slight decline).

Interest Rates:

Interest rates at the end of January have recently increased to just over the 4% level for a 30 year conventional mortgage. A fifteen year conventional mortgages is at just under the 3.2% range. Five and seven year arms are at the 3.07% range.

The combination of the fear of steadily rising rates and slowly rising home prices is driving the current market.   And, the Fed has already instituted an initial increase in rates and are currently talking about more to come. Most industry experts are forecasting  a 4.7% rate by the end of the year, 5% by the end of of 2018 and 5.5% by the end of 2019. If the rate merely increases form 4% to 5%, buyers will loose 9% of their buying power.

National and New Jersey Job Front:

On the national level the US reached full recovery in May of 2014 and saw an increase of 2,700,000+ in 2015. Revised figures show a gain of 2,242,000+ in 2016.  This is a decrease of 17% from 2015 . In April 211,000 jobs were added based on preliminary figures which represents a strong start.

The national U-3 unemployment rate stand at 4.4% at the end of April.  It should be noted, due to full-time and part-time jobs being counted equally by the BLS, these numbers are misleading. Actually, the US Economy still needs to create nearly an additional 2.6+ Million jobs to achieve the same employment situation that existed prior to the start of the 2007 to 2009 recession and the U-6 unemployment rate actually stand at 9+%

NJ job growth increase by 65,000+ jobs in 2015 (the best in 15 years). At that pace, NJ was on track to recover all of its jobs lost in the recession by 2017 (3 years later than the national level) and has recovered about 96% of those jobs to date.

Finalized numbers show that this number will be more in the range of 59,000 in 2016 (also good).

In March thru April NJ reported a loss of 12,800 jobs resulting in a net increase of jobs in the first four months of 2017 of 12,000 as compared to 19,300 over the same period in the prior year.

The NJ unemployment rate has decreased slightly to 4.1% which is now under the overall US rate of 4.4%.

In general, things are headed in the right direction, but NJ still trails the nation.

This is resulting in local consumer confidence in NJ.

Rental Market Trends:

Prior restrictive mortgage standards have forced younger age buyers (millennials) to postpone their transition to home ownership until later in life than was previously seen.  For the most part, these potential have been living with mom and dad or sharing rentals with others in the same situation.

Yet, we are starting to see them now re-enter the rental and first time buyer markets.

The average age of our first time buyer is reported to have risen from 29 to 37 years over the past five years.

And, many older age households are selling their homes and moving into rentals to close their gap in underfunded retirement plans which were affected by the recent economic downturns.

The net result of these actions are continuing to cause rental prices to quickly rise in New Jersey (about 10% annually) and keeping rental inventory extremely low. We currently have a 3.2% vacancy rate in NJ (with the average rental price topping $1,300) as compared the national vacancy rate of 4.3%.

Contributing to the demand in rentals is the drop in home ownership in NJ which has dropped from 71% to 62% over the past 12+ years.  This is a drop of nearly 13% in NJ as compared to a drop of nearly 8% at the national level and contributes to the slower recovery of home prices in the state.  Also affecting it is the increase in 1 or 2 person households that have no children.  This is also reflected in our school population.

As a result of this shift, there are now nearly 300,000 more renters in NJ.


NJ continues to face very high foreclosure rate filings while other states have begun to, or already have recovered.

This figure varies widely by local market.  It is also impacted greatly in areas hit particularly hard by hurricane Sandy (which was just about three years ago).

NJ still ranks as number one in the country at 4.8% followed by NY and then LA, MS , ME, FL, MD and DE.  Nationally this number is just around 2.2%.

NJ experienced a slightly decreased rate in foreclosure filings. In 2016 there was a 3% decrease over the prior year and added an additional nearly 71,100 filings as compared to 76,800 in 2015.  In 2017 foreclosure filings in NJ are forecasted to be in the vicinity 0f 76,000. These foreclosures will continue to add pressure to home prices (especially in areas where they are concentrated).

The positive news is that in a market starved for inventory, these foreclosures are now only selling at a small discount.


Last year, 2016 was not a normal year from the elections viewpoint to the US and NJ economy viewpoint.

And, we did not have a severe winter which has kept the buyers out (also not normal).

And, 2017 has started off strong with increases in the stock market, interest rates and, as a result, an increased consumer confidence.

We saw surge in home sales  (but not prices) in central NJ in 2016 and early 2017.  Especially in the sub $400,000 market.  We are plagued my not having enough inventory in those more popular price points and these sales increases could be even better if we had more inventory.  But, as inventory builds up as prices continue to rise (and people are no longer under water), this should have a positive effect on prices.  In 2016 we saw a less than 1% rise in prices in NJ.  And, it is dependent on location and price point.

Year over year in 2017 we have seen a 3% rise so far and it is predicted the this should rise to 5% by end of year in NJ.  Once again, this dependent on location and price point

We are also seeing people in their home over 10 years thinking about making a change.   They were reluctant over the past five or so years because of the poor economy.  Their equity has built back up and they now can more comfortably make a change and is now rising greatly as the portion of payments going towards principal has increased.

We are seeing the most effect on prices in the under $400K markets where the first time buyers and millennials are shopping.  The over $500K market is holding steady to diminishing slightly depending on location and price.  A lot of times when a $500K property come on the market, it is completing with a $600K that really needs to sell is and now in the $500s competing with them (and so on…).

And, the foreclosures are to some extent helping to offset the fewer listings.

Net, net:  As either a seller or buyer, the time could not be better to be in the market.  We still have low (but increasing) interest rates, a pent up demand from both a buyer and seller viewpoint and a very active market with increasing prices in the more popular price points.  Give me a call at 908-238-0118 to discuss your particular situation and let me put my expertise to work for you.

Note: The information presented is deemed accurate but not reliable or guaranteed. Reasonable precautions were taken in the preparation and presentation of this information to ensure accuracy, but the author assumed no liability for any actions taken based on this information. Some opinions expressed represent forecasts of economic conditions as the impact real estate values. All such information is solely conjecture and should be regarded as opinion only and not serve as the sole basis of any financial decision.

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