Supply of Inventory in New York Increases
The weather in New York in February, which has been impressively cold, rainy and snowy, has impacted the residential real estate market throughout large portions of the U.S. for February 2019 by stalling some buying and selling actions. Nevertheless, housing markets have proven to be resilient despite predictions of a tougher year for the industry.
New Listings were down 4.1 percent to 13,562. Pending Sales decreased 1.5 percent to 8,915. Inventory grew 0.7 percent to 60,966 units. Prices moved higher as the Median Sales Price was up 9.8 percent to $280,000.
Days on Market decreased 2.3 percent to 85 days. Months Supply of Inventory was up 3.8 percent to 5.5 months.
Time to Focus on Affordable Housing
Taxes on real estate are not the answer. Sign the petition calling on Congress to address our country’s housing shortage.