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Less inventory of homes amounts to fewer sales in New York State

October NYS Housing Statistics

October NYS Housing Statistics

October NYS Housing Statistics

ALBANY, N.Y., Nov. 21, 2019 (GLOBE NEWSWIRE) — Against the continual backdrop of fewer homes on the market, homebuyers in New York State closed 12,408 sales during October, falling 4.1-percent from October 2018, according to the housing market report released today by the New York State Association of REALTORS®.

Inventory of homes for sale dropped for the fourth consecutive month, falling 4.2-percent to 69,081 units and new listings inched lower as well, 2.3-percent to 16,457 houses.

Pending sales, however, increased 2.6 percent in New York State, totaling 11,844 units in October, and are up 2.6-percent in year-over-year comparisons to 108,699 homes.

The median sales price growth trend continued, climbing to $280,000 – an 8.1-percent increase compared to this time last year.

While interest rates did rise slightly, up 0.8-percent to 3.69-percent on a 30-year fixed mortgage, according to Freddie Mac, the rates are still one-percent lower than those in October 2018.

Additional data is available at http://www.nysar.com/industry-resources/market-data

Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums and existing single-family homes.

The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 60,000 of New York State’s real estate professionals. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®. These REALTORS® are also members of the New York State Association of REALTORS® as well as their local board or association of REALTORS®

Contact:
Scott Morlock
Director of Communications
518-463-0300×208 office
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aef2a650-9f52-4b63-a184-7fcae2423dea

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