Buyer demand continues to be strong in New York State

In 2019 home prices were up again in most markets. Buyer demand continues to be strong but with tepid seller activity still in many locations, total sales are lower than they would normally be in a more balanced market. While up from their recent lows a few months ago, mortgage rates end the year close to three-quarters of a percent lower than a year ago, helping to improve affordability and offset rising home prices.

Read more: “Economic expansion, low inventory fuel 2019 NYS Housing Market” from the New York State Association of REALTORS®.