New York State housing market thrives in October

Albany, NY – November 24, 2015 – (RealEstateRama) — The 2015 New York State housing market growth trend continued into October, reaching the highest level of closed sales for the month in more than 25 years, according to the housing market report released today by the New York State Association of REALTORS. October 2015 closed sales increased nearly 2 percent to reach 11,216.

The months supply of homes for sale dropped 15.5 percent at the end of October to 8.7 months supply. It was at 10.3 months at the end of October 2014. A 6 month to 6.5 month supply is considered to be a balanced market. There were 88,977 homes listed for sale at the end of October, a decrease of 5.6 percent compared to October 2014.

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The New York State Association of REALTORS (NYSAR) is a not-for-profit trade organization representing more than 56,000 of New York state’s real estate professionals. The term REALTOR is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS. These REALTORS are also members of the New York State Association of REALTORS as well as their local board or association of REALTORS.

Contact:

Salvatore I. Prividera Jr.
Director of Communications
and Marketing

Phone: 518.463.0300
Fax: 518.462.5474

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