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Homebuyers in New York State closed over 12,000 sales in October

Against the continual backdrop of fewer homes on the market, homebuyers in New York State closed 12,408 sales during October, falling 4.1-percent from October 2018, according to the housing market report released by the New York State Association of REALTORS®.

For more details, see “New York State Housing Report – September 2019” from the New York State Association of REALTORS®.

Prices increase while new listings decrease in Chattanooga region

In October, mortgage rates increased slightly from the three-year lows seen in September. While the Federal Reserve reduced the federal-funds target rate by .25%, this decline was widely expected and largely factored into mortgage rates already, which are still approximately 1% lower than this time last year. Fannie Mae is predicting that continued low rates, and possibly lower rates, are expected in 2020.

For more details, see “October 2019 Market Statistics” from the Greater Chattanooga Association of REALTORS®.

September housing statistics for Miami-Dade County

Miami-Dade County single-family home sales, condo sales, median prices, dollar volume and luxury transactions increased year-over-year in September 2019, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

For more details, see “Miami Housing Report – September 2019” from Miami REALTORS®.

New York State home sales and listings climb up

Buoyed by a strong economy and continued low mortgage rates, the New York State housing market showed an upward climb in sales and listings in September, according to the housing market report released today by the New York State Association of REALTORS®.

For more details, see “New York State Housing Report – September 2019” from the New York State Association of REALTORS®.

Chattanooga Region begins its annual cooldown

With the kids back in school and the weather cooling, the housing market begins its annual cooldown as well. Nationally, buyer and seller activity remained strong, buoyed by low mortgage rates and a strong economy. The market fundamentals suggest no significant changes from recent trends, other than the seasonally tempered pace we see this time of year. As we move into the final three months of 2019, buyers will find fewer homes coming on the market, but also less competition for those homes.

For more details, see “September 2019 Market Statistics” from the Greater Chattanooga Association of REALTORS®.