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New home sales hit snag after nine-year high

Sep 27, 2016
New single-family home sales posted the largest drop in nearly a year in August, plunging 7.6 percent to an annual rate of 609,000, according to data released by the Commerce Department. Despite the drop, it is the second consecutive month that new-home sales have topped a 600,000 annual pace since the Great Recession, the National Association of Home Builders reports. In July, new-home sales had surged to a nine-year high.
 
New-home sales dropped by the highest percentage in the Northeast, falling 34.3 percent in August month-over-month. 
 
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Home sales near record high in November

There were 10,719 closed home sales across New York State during November, representing the second-highest total on record for the month. The November sales record of 10,991 was set in November 2016. The statewide median sales price grew by 5.8 percent in November compared to last November. Click here to read more.

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