Market
Nearly 90% of Metro Areas Registered Home Price Gains in Second Quarter of 2024; NY Metro Region Among Top Markets for Price Increases
Two market areas that make up the New York metro region—New York-Jersey City-White Plains, NY-NJ (No. 7) and Dutchess County-Putnam County, NY (No. 9)—ranked among the top 10 metro areas for price increases in the second quarter.
Northeast Pending Home Sales Rose 3% in June
The Northeast PHSI rose 3.0% from last month to 65.5, a decline of 0.3% from June 2023.
Existing U.S. Home Sales Slipped 5.4% in June; Median Sales Price Jumps to Record High of $426,900
Existing-home sales in the Northeast in June withdrew 2.1% from May to an annual rate of 470,000, a decline of 6% from June 2023.
Median Single-Family Home Sales Prices in June Rose Sharply in Almost Every Region
Sales were down in all counties in the Hudson Gateway Association of Realtors market area, with Orange County posting the largest decline in single-family home sales at 26.9%.
Annual Foreign Investment in U.S. Existing Homes Sales Dropped 21.2% to $42 Billion
At $1.3 million, Chinese buyers had the highest average purchase price, with 25% purchasing property in California.
NAR: 26% of Realtors Surveyed Say Lack of Inventory, Housing Affordability Prevented Clients from Buying Homes in 2023
“2023 was a difficult year for Realtors due to high mortgage rates and low housing inventory, which significantly impacted home sales volume,”
NAR: Northeast Pending Sales Rose Slightly in May
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—decreased to 70.8 in May. Year-over-year, pending transactions were down 6.6%.
May Median Single-Family Home Sales Prices Rose by Double Digits in Almost All Regions
Only Westchester saw a slight increase in closed sales for single-family homes, with a 4.6% gain.
U.S. Median Home Sales Price Hit New Record in May; Northeast Sales Flat, Median Price Up 9.2%
Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—retreated 0.7% from April.
Data Reveals Hudson Valley, NY Metro Area ‘Continue to be One of the Most Desirable Locations in the Country’
The big winner in terms of property value was Manhattan’s District 10, coming in with $1.182 million for the median property value.
Realtor.com: NY Metro Region’s Median Listing Price Per Sq. Ft. Leads Nation With Nearly 85% Increase Since 2019
The New York metro region’s median listing price of $789,000 in May 2024 was 34% higher than in May 2019.
Northeast Pending Home Sales Slumped 3.5% in April
“The impact of escalating interest rates throughout April dampened home buying, even with more inventory in the market,” said Lawrence Yun.