New York State’s housing inventory dropped to a historic low while home sales and prices increased.
According to date from the New York State Association of Realtors, housing inventory fell 2.6% year-over-year in December to 23,198, the lowest number of homes for sale since the organization began tracking statistics in 1997. However, new listings rose by 3.9% from 5,742 listings in December 2023 to 5,968 listings one year later.
But despite a low inventory, sales across the Empire State increased 3.7% year-over-year from 8,814 homes in December 2023 to 9,138 units last month. Pending sales rose from 6,207 homes in December 2023 to 6,423 homes in December 2024, up 3.5%.
As for the cost of homes, the median sales prices were up last month by 10.5% to $420,000 from $380,000 one year before.
NY is a mess in every way. No wonder so many people are fleeing for red states. When you govern against the people and welcome 20 million illegals, what do you expect? Wall it in to protect the rest of the US.