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Category Archives: Press Releases

Low Inventory Remains a Pressure Point Throughout Regi...

The housing market in the Capital Region finished out with third quarter of the year on a high. The demand for inventory has remained high throughout the first 9 months of 2019. The number of new listings increased 4 percent last month to 1,740 from 1,677 in September 2019. Demand has helped prop up sales and prices, despite heavy reductions in inventory and months …

Home Prices Up, Inventory Down

At this point in the year, there is a good sense for how the housing market is likely to perform for the foreseeable future. While it remains true that sales prices are running higher and inventory options are still relatively low, buyers are beginning to find some wiggle room at price points and geographies throughout the region and in points north and south. Housing …

Prices Continue to Rise

Buyers are beginning to return in full force this spring. The competition is fierce for well-priced homes in desirable locations. As prices continue to gain traction the median sales price in the Capital Region increased 5 percent to $214,946 with the percent of original list price received landing at about 95 percent. The median sale price for new construction increased 3 percent to $389,347, …

New Listings on the Rise in First Quarter

Though during the first quarter of the year housing supply continued to struggle to replenish itself in most markets across the US, new listings in the Capital Region increased by 20 percent with 1,630 listings bringing the region’s inventory to 4,782, a nearly 8 percent increase in homes available for sale over last year at this time. March’s pending sales increased by 5 percent …

Home Sales Starting Rise

Weather-related events have put a damper on the conditions ideal to make home sales during February, yet buyers have shown determination toward achieving their homeownership goals. The market is showing signs of waking up from the winter hibernation. According to the National Association of REALTORS®, in February home sales nationwide experienced the largest month-over-month gain since December 2015. Compared to January 2019, February saw …

Sales down, inventory up in Capital Region

Nationally, existing-home sales experienced a minor drop for the third consecutive month in January. Of the four major U.S. regions, only the Northeast saw an uptick in sales activity last month. In the Capital Region, pending sales decreased 5 percent from January 2018 to 757 for the month. However, January showed a slight increase in pending sales from the previous two months. According to …

Home Prices Up in ’18 But Lower Than Recent Year...

Due to slow wage growth, housing affordability remains a concern for 2019. Although inventory is poised to improve in 2019, homes that become available may prove to be too costly for first-time buyers. The National Association of REALTORS® forecasts 2019 sales to increase only slightly to 5.4 million nationally (a 1 percent increase over 2018). The national median existing-home price is expected to rise …

Prices Continue to Gain Traction

Freddie Mac recently reported that the 30-year fixed rate fell to 4.63 percent – the lowest it has been since mid-September. Mortgage rates have either fallen or remained flat for five consecutive weeks and nationally purchase applicants are responding with an uptick in demand given these lower rates. Though the Capital Region’s sales were reported down, the combination of low unemployment and the recent …