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First-time buyers expected to fuel '17 market

Oct 20, 2016's Active Home Shopper Report predicts that the number first-time homebuyers will surge in 2017, possibly as high as 52 percent. The report is based on survey data from buyers who plan to purchase homes in the spring or summer of 2017. A greater demand for suburban homes is also predicted by Chief Economist Jonathan Smoke said, "With so many first time buyers in the market, competition will be even fiercer next year for affordable starter homes in the suburbs. Those looking to buy may want to consider a winter home purchase in order to avoid bidding wars and higher prices spurred by a potential increase in millennial buyers."

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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.