.wre-home .wre-primary-menu:not(.wre-menu-ready) .sub-menu,.wre-home .wre-utility:not(.wre-menu-ready) .sub-menu{display:block!important} @media(max-width:760px){.wre-home .wre-nav-border:not([data-wre-mobile-ready]) .wre-navigation{display:flex!important}}

Current News & Events Market Snapshot Real Estate News U.S. Housing Market WRE News Exclusive

New York State Housing Inventory at 8-Month Low

The lack of available properties resulted in a 4.6% year-over-year decline in closed sales.

By Phil HallDecember 20, 2024

Map of New York cut out on a blank white paper with a blue background. Modern and trendy paper cutout effect. Vector Illustration (EPS file, well layered and grouped). Easy to edit, manipulate, resize or colorize. Vector and Jpeg file of different sizes.

Two words for buyers looking for homes in New York State: good luck!

According to data from the New York State Association of Realtors, the inventory of homes for sale across the state dropped to the lowest point since March – only 26,152 units were available last month, down 11.3% from 29,499 available properties in November 2023.

Not surprisingly, the lack of available properties resulted in a 4.6% year-over-year decline in closed sales – 8,660 units in November versus 9,079 sales one year earlier. However, pending sales rose 3.6% year-over-year comparisons, from 7,602 homes in November 2023 to 7,874 homes last month.