A new report from the New York State Association of Realtors, or NYSAR, shows that housing trends in the Empire State are a microcosm of the U.S. market. NYSAR’s April housing market numbers show strong buyer demand and an ongoing decline in the number of homes for sale.
This dynamic was fueled a 7.8 percent increase in the April statewide median sales price (to $235,000) and an 11.2 percent drop in new listings compared to a year ago, according to the report. In real numbers, that’s a drop from just over 22,000 new listings to just above 19,600.
There were 18 percent fewer homes for sale in New York compared to last April (about 65,000 compared to about 80,000 in 2016). Inventory constraints also led to a 5 percent decline in home sales for the…
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