|
New York Housing Market Slows Slightly in February
Sales of existing single-family homes in New York state in February slowed slightly compared to February 2006, but remained at typical levels for the market, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS ®.
The February 2007 sales total of 5,535 represents a 3.5- percent decrease compared to the February 2006 sales total of 5,734. The February 2007 total fell 15.2 percent compared to the January 2007 sales total of 6,524.
The February 2007 statewide median sales price of $265,000 represents a 1.9 percent decrease compared to the February 2006 statewide median selling price of $270,000. The February 2007 total fell almost 11 percent compared to the January 2007 median of $297,500.
Sales gains were reported in 23 reporting counties compared to February 2006, while 16 reported growth compared to January 2007.
Twenty-seven counties reported gains in median selling price compared to February 2006, while 23 posted gains compared to January 2007.
"With the first two months of 2007 in the books, we continue to project a solid housing market for the year with moderation in median price growth," said Charles M. Staro, NYSAR chief executive officer. "The return of higher inventory levels provides buyers with increased purchase options, making the bidding wars of the boom market, which drove prices up, a thing of the past."
The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 64,000 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®.
| 
