Skip to main content

NYS Housing Sales Down in January

Phil Hall
Feb 21, 2018
While the rest of the state remains on pause due to contain the spread of COVID-19, New York’s real estate industry has been given the green light to return to limited activity

The New York State housing market started 2018 with 8,698 closed sales, according to new data from the New York State Association of Realtors (NYSAR). However, the total sales were 2.7 percent below the record-setting January 2017 total of 8,940.
The January statewide median sales price was $266,000, up 8.4 percent from the $245,000 median set a year ago. There were 8,268 pending sales last month, a 1.4 percent drop from the previous year, and the months’ supply of homes for sale fell 12.5 percent to a 4.9-month’s supply; one year earlier, the supply was at 5.6 months. Statewide inventory totaled 56,374, a 9.7 percent year-over-year tumble.
“The 2017 trends of strong buyer demand and price growth carried over into January as the New York State housing market posted its second-highest sales total on record for the month,” said Duncan R. MacKenzie, Chief Executive Officer of NYSAR. “The other prevailing trend, fewer homes listed for sale, also continued into the new year. We believe that strong competition in a low-inventory market will drive price growth, but it may also provide a braking action to sales growth. We will also be closely watching the data for the potential impact of federal tax reform.”

Feb 21, 2018
Williston Financial Group, Doma Strike Deal

WFG is set to acquire Doma’s title operations, including operation centers in the Northern and Central California.

May 24, 2023
Mat Ishbia Takes A Charge At NBA Playoff Game

UWM CEO and majority owner of the Phoenix Suns involved in scuffle with Denver center Nikola Jokic

May 08, 2023
The Pitfalls Of Cash-Out Refinancing In A Rising Interest Rate Environment

Second-lien home equity loans are a far better way to take out cash

May 02, 2023
NEW YORK: How To Conquer - Not Fear - The Empire State

Roadblocks are many but payoff is worth it

May 01, 2023
RCN Capital Opens LA Office

Expansion marks lender's continued success.

Apr 26, 2023
Trigger Lead Legislation Renews Debate Over Consumer Choice

Borrowers can protect themselves from unsolicited lenders, but they could be doing themselves a disfavor

Apr 20, 2023