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Low inventory, higher prices marked hot 2021 real estate market

by | Dec 24, 2021 | 0 comments

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Source: Times Union — 

The Hudson Valley home-buying frenzy, sparked in 2020 by families relocating at the onset of the COVID-19 pandemic, didn’t cool down in 2021. In many places this year, the residential real estate market only got hotter.

The latest New York State Association of Realtors report, reflecting November numbers, shows that nationwide the residential real estate market remains strong heading into the winter, a period that typically slows. Inventory across the state shrank 26.9 percent from 2020 to 2021, while the number of days homes stayed on market decreased from 62 days to 51 days — 17.7 percent — in the same time period. 

 

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