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New York Housing Market Picks Up in May
Sales of existing single-family homes in New York state in May showed an increase of more than 14 percent compared to April 2007, while the statewide median decreased by slightly more than 3 percent, according to preliminary singlefamily sales data accumulated by the New York State Association of REALTORS®.
The May 2007 sales total of 7,766 represents a 14.2-percent increase compared to the April 2007 sales total of 6,800. The May 2007 total represents a 13.6-percent decrease compared to the May 2006 sales total of 8,991.
The May 2007 statewide median sales price of $239,000 represents a 3.2-percent decrease compared to the April 2007 median sales price of $247,000. The May 2007 median represents a 1.7-percent increase compared to the May 2006 statewide median price of $235,000.
Sales gains were reported in 41 counties compared to April 2007, while seven reported growth compared to May 2006.
Forty-three counties reported gains in median selling price compared to April 2007, while 36 posted gains compared to May 2006.
"While there has been a softening in completed sales compared to the most recent boom markets, sales activity in New York state remains at historically strong levels with the anticipated slowing in median price growth," said Charles M. Staro, NYSAR chief executive officer. "The April-to-May increase in sales provides a solid starting point for the late spring and summer market, which is typically the most active in our state."
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®. 03
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