Market
NAR: Existing U.S. Home Sales Decreased 4.9% in January, But Increased Year-Over-Year for Fourth Consecutive Month
In January, existing-home sales in the Northeast fell 5.7% from December to an annual rate of 500,000, up 4.2% from January 2024.
Double-Digit Increases in Single-Family Home Sales Continued Throughout Most of the Hudson Valley in January
Inventory for almost all property types declined in all regions in January, but Rockland County saw a huge co-op inventory gain of 63.6% and 29.9% for condos.
NAR: Nearly 90% of Metro Areas Registered Home Price Gains in Fourth Quarter of 2024
In the past five years, from 2019 to 2024, the median home price rose by 49.9%.
New York Metro Area Real Estate Market Saw Rising Home Prices, Low Inventory in 2024
The highest number of closed sales occurred in Suffolk County with 12,913, followed by Nassau County with 9,748, and Westchester County with 7,127.
All Six Lower Hudson Valley Regions Saw Double-Digit Increases in Single-Family Home Sales in December
Sullivan County’s December sales of single-family homes increased by 49.1%—the highest in the six-county region.
NAR: U.S. Pending Home Sales Fell 5.5% in December; Declined 8.1% in Northeast
Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability.
NAR: U.S. Existing-Home Sales Rose 2.2% in December; Northeast Sales Climbed Nearly 4% Despite High Rates
U.S. Existing-Home Sales Rose 2.2% in December
U.S. Pending Home Sales Rose 2.2% in November, Northeast Pending Sales Fell 1.3% From October
The Midwest, South and West experienced month-over-month gains in transactions, while the Northeast decreased.
NAR: Northeast Existing-Home Sales Spiked by 8.5% in November; Prices Rose Nearly 10%
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
November Single-Family Home Sales Increased in Half of the Lower Hudson Valley Region
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
NAR, Realtor.com. Builders, Mortgage Bankers Economists Expect Home Sales, Rates Will Improve in 2025
Yun noted that a key trend going forward is that for-sale inventory has been increasing of late and is expected to continue next year.
U.S. Pending Home Sales Climbed 2.0% in October; Northeast Leads Way With 4.7% Increase
“Homebuying momentum is building after nearly two years of suppressed home sales,” said NAR Chief Economist Lawrence Yun.