|
New York Housing Market Holds Steady In July
Sales of existing single-family homes in New York state in July held steady compared to the previous month and July 2006, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS®. The statewide median sales price increased slightly compared to the previous month.
The July 2007 sales total of 9,459 represents a 0.4-percent increase compared to the June 2007 sales total 9,418. The July 2007 total represents a 2.5- percent decrease compared to the July 2006 sales total of 9,701.
The July 2007 statewide median sales price of $252,000 represents a 0.8-percent increase compared to the June 2007 median sales price of $250,000. The July 2007 median represents a 4.9-percent decrease compared to the July 2006 statewide median price of $265,000. Sales gains were reported in 27 counties compared to June 2007, while 33 reported growth compared to July 2006. Thirty-two counties reported gains in median selling price compared to June 2007, while 34 posted gains compared to July 2006.
"We believe the New York State housing market is heading for a soft landing with sales remaining solid despite external pressures such as a tightening in the mortgage industry," said Charles M. Staro, NYSAR chief executive officer. "We have not experienced the precipitous fall off in sales or steep decline in median sales price as in other parts of the country, and as a result, continue to project a relatively healthy housing market through the end of 2007."
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®.
| 
