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Three New York State housing markets top affordability charts

Feb 16, 2017
Buffalo-Cheektowaga-Niagara Falls, NY and Syracuse, NY both ranked in the top five affordable major housing markets in the country according to the most recent National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). Binghamton, NY ranked in the top smaller housing markets. 

According to the index, shortages of buildable lots and skilled labor, along with excessive regulations, rising mortgage interest rates and ongoing home price appreciation pushed housing affordability in the fourth quarter of 2016 to its lowest point since the third quarter of 2008. 

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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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