Media

Date: 08/21/13

Capital Region Housing Market Robust

Based on statistics released
today by the Greater Capital Association of REALTORS® (GCAR) it is can be
reported that the housing market in the Capital Region of New York State is a
robust market which projects to continue that performance as we head through
the balance of 2013. The report is based upon data collected by the Capital
Region Multiple Listing Service, Inc. a regional service owned by GCAR and the
Saratoga Schenectady Schoharie Association of REALTORS®, Inc.

Miguel Berger
(435-9944), 2013 GCAR president says, “When we look at reports from July of
this year compared with July of 2012 we see that pending sales, that point when
buyer and seller agree on the terms and conditions of a sale, are up by 8%
giving us confidence that closed sales will continue to outperform 2012 as
these pending transactions go to closing. And we also can report that for July
of 2013 closed sales, the point when title transfers from one party to another,
are up over 25% for the month.” He adds, “Both these market indicators are very
strong and lead us to project that our local market will continue to be robust
as we close out this year. We also have no reason to believe, even as interest
rates have moved slightly higher, that 2014 will be anything but a strong
market as well.”

James Ader (464-0191,
Ext. 16), GCAR’s chief executive officer says, “The statistic that buyers and
sellers seem most interested in is the sales price of housing in the Capital
Region. Thus far in 2013, through the end of July, the average and median price
are both up by 3% over 2012. This is a good solid rate of appreciation and one
which will do no harm to the market in and of itself.” He adds, “Rates of
appreciation 1% – 2% over the rate of inflation are perfect to reflect a
balanced real estate market.”

“We remind everyone
who is interested in buying or selling a home to talk with a professional. The
housing purchase is too large to tackle without a complete understanding of the
Capital Region’s market and of the entire real estate transaction”, says Mr. Berger.
“If you are waiting for interest rates to drop lower you may well miss the
wonderful opportunity which exists today. Prices are appreciating and interest
rates are still extremely low.”

GCAR is a professional trade
association representing 2,770 real estate professionals in the Capital Region.
GCAR is the “Voice for Real Estate ™ in the Capital Region.

 

###

 

GCAR, 451 New Karner
Road, Albany, NY 12205

Date: 08/19/13

BOM Sponsor a General Membership Meeting

October 31, 2013
2:30 PMto4:30 PM

Join the Broker/Owner/Managers Council and Anthony Gatto, Esq. for a discussion of the DOS New Advertising Guidelines.  Open to all members. flyer

Date: 08/5/13

Member Appreciation Mixer

August 14, 2013
5:00 PMto8:00 PM

Join us on August 14 at the Cannon and Barrel Pub from 5-8 pm for a member appreciation mixer -scotch  and wine tasting. Reservations a must! 464-0191. See flyer for details