News From New York
Timely, relevant and useful information about New York and other parts of the country related to real estate, finance and policy issues for homeowners and prospective homeowners.
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Mortgage rates have remained steady this month and are still down more than 1 percent from last year at this time.
The median sales price in New York State has risen 44 consecutive months, which has created a shortage of affordable homes.
With mortgage rates dropping yet again in the second quarter of 2019, pending sales in New York State inched up one percent from 39,663 homes to 40,054 units.
As the property values in the New York City area continue to rise, dozens of once ignored neighborhoods around the city are popping up on everyone’s radar as viable alternatives prospective homebuyers.
With the price of public transportation also increasing and the chronic maintenance issues in certain areas, renters in New York City are beginning to reconsider homeownership as opposed to renting.
The New York State housing market posted a solid first half of the year with 60,043 closed sales.
NYSAR has made a commitment to spreading continued awareness of Fair Housing.
“We have concerns about the plan and its impact on New York state as a whole, New York taxpayers and New York homeowners – and frankly future homeowners as well.”
Legislatures across the country are considering bills that would create savings accounts for first-time homebuyers.