Nysar Press Release Feed

New York State 2011 home sales 3.9 percent off 2010 pace; statewide median sales price holds steady

By NySAR — Mon, 30 Jan 2012 00:00:00 GMT

Albany – Jan. 30, 2012 – Fueled by fourth quarter sales growth, home sales in New York State rebounded to finish only 3.9 percent behind the federal tax credit-driven 2010 market, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price remained stable through the year and remained on par with 2010 at year’s end.

“The housing market sales comeback in the fourth quarter builds hope for an improving 2012 market,” said Duncan R. MacKenzie, NYSAR chief executive officer. “The continued stabilization of the statewide median sales price is a positive sign for homeowners, and a signal for would-be buyers that it’s time to focus on advantages such as record-low mortgage rates and solid affordability factors rather than price declines.”

“The upward sales swing seems to contradict the low consumer confidence in the housing market as reported in the recent NYSAR/Siena Research Institute Consumer Real Estate Sentiment Survey,” said MacKenzie.

Siena Research Institute releases fourth quarter 2011 New York State Consumer Real Estate Sentiment Scores

By NySAR — Mon, 23 Jan 2012 00:00:00 GMT

“New Yorkers’ assessment of the current real estate market edged even lower after hitting a seven quarter low in October,” according to Dr. Don Levy, SRI’s Director. “A staggering forty-nine percent say the market has worsened over the last year while only fifteen percent believe conditions have improved. But expectations for the market and property values a year from today are slightly stronger across the state and in all areas than they were only three months ago. Residents continue to say that it is a phenomenal time to buy but a very problematic moment to sell. While a quarter expect sellers’ lives to improve over the next year, nearly half predict prospects for sellers to remain about the same through 2012 as they are today.”

The overall current Real Estate Sentiment score among New Yorkers in the fourth quarter of 2011 is -41.7 well below the point where equal percentages of citizens feel optimistic and pessimistic about the housing market and it is down 2.4 points from last quarter. Looking forward, the overall future Real Estate Sentiment score is 4.3 (up from -1.1 last quarter) indicating that New Yorkers expect the overall real estate market and the value of property to remain virtually unchanged over the next year.

New York State November 2011 home sales up slightly from November 2010

By NySAR — Tue, 27 Dec 2011 00:00:00 GMT

Albany – Dec. 23, 2011 – New York State November home sales increased nearly 3 percent from last November, while the median sales price dipped slightly compared to November 2010, according to preliminary singlefamily sales data accumulated by the New York State Association of REALTORS. The number of homes sold in November dropped from October 2011 as the market began a typical seasonal slowdown.

“The November data show a continuation of median sales price stability across New York State as the statewide median sales remained on par with October and dipped only slightly from a year ago,” said Duncan R. MacKenzie, NYSAR chief executive officer. “It is encouraging, overall, that sales increased slightly from last November, despite the decline from October.”

“The seasonal nature of the housing market across our state typically results in a slowdown in sales starting inthe fall and this year was no exception,” said MacKenzie.

New York State October 2011 housing market keeps pace with October 2010

By NySAR — Tue, 29 Nov 2011 00:00:00 GMT

Albany – Nov. 29, 2011 – New York State October home sales and the statewide median sales price kept pace with the 2010 October market, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The number of homes sold in October 2011 dropped from September 2011 indicating that the market still is finding its identity.

“The October data show that the market has not entered into a trend either positive or negative,” said Duncan R. MacKenzie, NYSAR chief executive officer. “The October year-to-year volume stability countered by month-to-month loss indicates a market subject to fluctuating consumer needs.”

“Despite continuing market fundamentals favoring affordability such as historically low mortgage rates and available inventory, overly stringent lending standards for qualified buyers combined with concerns about the economy continue to hamper housing market sales. Sustainable housing market recovery will not occur until consumer confidence in the economy returns and the recent gains in job growth become a long-term trend,” MacKenzie said.

New York State third quarter home sales up from year ago; 2011 market still lags behind 2010

By NySAR — Thu, 27 Oct 2011 00:00:00 GMT

Albany –Oct. 26, 2011 – New York State home sales were up more than 17 percent in the 2011 third quarter, compared to the 2010 third quarter, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS®. The statewide median sales price decreased slightly in both the third quarter and September compared to the same periods last year.

“While the solid third quarter and September home sales totals are encouraging, the overall 2011 housing market continues to experience an uneven recovery,” said Duncan R. MacKenzie, NYSAR chief executive officer. “Even with the double-digit sales increase in the third quarter, the 2011 housing market remains 7.3-percent behind the federal tax-credit-driven 2010 market through September 30.”

“We are concerned that this trend will continue since overall consumer confidence remains low, and the housing sector is not immune as evidenced by the recent NYSAR/Siena Research Institute Consumer Real Estate Sentiment Survey...

Siena Research Institute releases third quarter 2011 New York State Consumer Real Estate Sentiment Scores

By NySAR — Wed, 19 Oct 2011 00:00:00 GMT

Albany, NY - The 2011 third quarter New York State Consumer Real Estate Sentiment Scores have been released by the Siena Research Institute (SRI).

“New Yorkers’ assessment of current real estate conditions hit a new low this quarter, registering the weakest number in the seven quarter history of this measure,” according to Dr. Don Levy, SRI’s Director. “Only one in six residents think the market has improved at all in the last year and less than one in three believe we will see conditions improve in the year ahead. While it remains a great time to buy, New Yorkers say that it is an unfortunate time to put the for sale sign up in front of your home. Eighty-two percent say selling prospects have not improved and two-thirds expect no change to come soon.”

The overall current Real Estate Sentiment score among New Yorkers in the third quarter of 2011 is -39.3 well below the point where equal percentages of citizens feel optimistic and pessimistic about the housing market and it is down 8.4 points from last quarter.

New York State home sales show double-digit increases; uneven recovery continues

By NySAR — Wed, 28 Sep 2011 00:00:00 GMT

Albany – Sept. 27, 2011 – New York State home sales were up nearly 26 percent in August compared to the same time last year, and up 11.4 percent compared to the July sales total, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price decreased slightly from July.

“The jump in August sales while the median sales price decreased for the first time in four months continues to show uneven recovery in our state’s housing market,” said Duncan R. MacKenzie, NYSAR chief executive officer. “These August numbers need to be seen in the context of the post federal tax-credit hangover last year and a weak July market this year.”

“Historically low interest rates and strong affordability conditions should be enticing to consumers,” said MacKenzie, “but with dismal economic news and slow job growth buyer enthusiasm remains greatly tempered. We anticipate the market to remain in an uneven recovery, especially given the devastation caused by Tropical Storms Irene and Lee in many areas of our state.”

REALTORS to provide housing assistance grants to victims of Tropical Storms Irene and Lee

By NySAR — Fri, 23 Sep 2011 00:00:00 GMT

Albany – September 23, 2011 – The New York State Association of REALTORS has partnered with the national REALTORS Relief Foundation (RRF) to bring disaster housing assistance to those affected by Tropical Storms Irene and Lee.

“New York’s REALTORS have a long-standing commitment to the communities they serve and to helping their neighbors in times of need,” said Nicholas Gigante, NYSAR president. “We know people in our state have lost everything, and that many homeowners will be obligated to make mortgage payments on homes that no longer exist or will not be habitable again for many months, while at the same time paying for temporary housing.”

Under the joint program with the RRF, assistance will be available to qualified applicants towards one of the following options: 1) Monthly mortgage expense for the primary residence that was damaged by Tropical Storm Irene/Tropical Storm Lee or; 2) Rental cost of temporary shelter due to displacement from the primary residence resulting from the storms. Relief assistance is limited to a maximum of $1,500.

NYSAR honors Staten Island REALTOR Dawn Carpenter as REALTOR of the Year

By NySAR — Fri, 16 Sep 2011 00:00:00 GMT

Albany – September 16, 2011 – The New York State Association of REALTORS honored Dawn M. Carpenter as the 2011 REALTOR of the Year during the association’s Fall Business Meetings in Verona, NY.

She is the 54th recipient of the REALTOR of the Year award, which recognizes outstanding service to the REALTOR organization at the local, state and national levels, a strict adherence to the high principles of the National Association of REALTORS Code of Ethics, a commitment to civic activity and business accomplishments.

Carpenter is a past president of the Staten Island Board of REALTORS (SIBOR) where she has also served and chaired on numerous committees. She was also recognized as the local board’s REALTOR of the Year in 2008.

New York State continues uneven housing recovery in July

By NySAR — Thu, 25 Aug 2011 00:00:00 GMT

Albany – Aug. 25, 2011 – New York State home sales were up more than 16 percent in July compared to July 2010, but failed to keep pace with the June sales total, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price posted gains compared to both last month and July 2010.

“The July sales total shows us that there is no clear trend to the overall New York State housing market,” said Duncan R. MacKenzie, NYSAR chief executive officer. “However, a third straight month of price appreciation indicates that at least one measure of the market is showing sustained progress.”

“Poor national economic news, including troubling unemployment numbers, continues to undermine consumer confidence in home buying in New York despite a near-perfect storm of historically low interest rates and plentiful inventory across the pricing spectrum.”