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Category Archives: Press Releases

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 …

The Days Have Gotten Shorter – So Have the Days ...

As we enter the fourth quarter of 2018, the Greater Capital Association of REALTORS® reports the market activity has not slowed down. There was a 12 percent increase in showings for properties listed over $225,000 and new construction in the Capital Region might be the cause. With the season’s new construction culminating in increased sales and closings the latest Capital Region real estate stats …

Prices Are Rising Along With Demand

The good news is – and there is some – that at the national level, economic analysts predict residential estate will continue along a positive line for the rest of the year. This remains to be the market outlook around the Capital Region right now. Last month 1,487 new listings were posted spending an average of only 59 days on market. Pending sales of …

Summer is Coming to a Close

Pending sales showed no change from August 2017 after 2 months of steady increases. This may be an indication that summer selling season is coming to an end. Closed sales are back on a downward trend after a slight increase in July. Even though closed sales decreased 3.3 percent from August 2017 to 1,271 for the month, we are still at nearly the same …

Capital Region Pending Sales Continue to Climb

Across the Capital Region pending sales increased 18 percent above July 2017 to 1,247 for the month. With a year over year increase of 7.5 and 4 percent respectively, 1,161 closings and 1,728 new listings, buyers and sellers were active and local REALTORS® were busy. Prices rode the wave increasing by 5 percent compared to last year at this time. The region’s median sales …

Buyers Get Serious – Sellers Get Busy

Buyers and sellers are at the height of the real estate season and the pressure on inventory continues. Sales were down compared to last year, which continues to have more to do with available inventory than buyer demand. Pending sales increased 5 percent from June 2017 to 1,285 for the month. Closed sales decreased 14 percent from June 2017 to 1,135 for the month. …

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