According to preliminary single-family sales data accumulated by the New York State Association of Realtors (NYSAR), New York State home sales in February decreased by 3.1 percent from February 2010, while also falling below January's total. The statewide median sales prices continued to trend upward.
"Several factors played a role in the decrease in February sales including tight credit availability and harsh winter conditions that plagued most of the state," said Duncan R. MacKenzie, NYSAR chief executive officer. "The New York State housing market tends to be slower during the winter months and this year was no exception."
"New York's Realtors are encouraged by innovative new financing programs being created to assist our state's residents in achieving homeownership," said MacKenzie. "We expect the market to be helped by programs such as the 'Own it, Fix it New York! Home Mortgage created by New York State Homes and Community Renewal, which allows qualified homebuyers to finance both the purchase and repair of foreclosed and 'short sale' homes."
"As the economy recovers and access to mortgages for those with good credit improves, we expect more New Yorkers to discover what their new neighbors already know," MacKenzie said. "It is a good time to buy a home in the Empire State thanks to a good selection of available inventory, and low mortgage rates."
Posted by Alex Finkelstein 03/24/11 9:00 AM EST
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"Several factors played a role in the decrease in February sales including tight credit availability and harsh winter conditions that plagued most of the state," said Duncan R. MacKenzie, NYSAR chief executive officer. "The New York State housing market tends to be slower during the winter months and this year was no exception."
"New York's Realtors are encouraged by innovative new financing programs being created to assist our state's residents in achieving homeownership," said MacKenzie. "We expect the market to be helped by programs such as the 'Own it, Fix it New York! Home Mortgage created by New York State Homes and Community Renewal, which allows qualified homebuyers to finance both the purchase and repair of foreclosed and 'short sale' homes."
"As the economy recovers and access to mortgages for those with good credit improves, we expect more New Yorkers to discover what their new neighbors already know," MacKenzie said. "It is a good time to buy a home in the Empire State thanks to a good selection of available inventory, and low mortgage rates."
Posted by Alex Finkelstein 03/24/11 9:00 AM EST
Author Bio | Archives
Related Stories:
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