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Economic confidence may be housing’s buoy

Mar 17, 2017
Consumers are getting more confident about the economy and their finances, and that could bode well for the real estate market, according to the National Association of REALTORS’ latest Housing Opportunities and Market Experience (HOME) survey. The share of households who say the economy is improving surged to its highest share in the survey’s five-quarter history, reaching 62 percent (up from 48 percent a year ago). 

Households are also feeling more confident about their finances. Respondents in the HOME survey reported confidence that their financial outlook will improve over the next six months. Financial confidence is at the highest levels in the survey’s history (reaching 62.6 on the index in March, up from a 58.1 reading a year ago).

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August sales fall just short of 2016 record

August home sales were strong across the Empire State, setting the second-highest total on record for the month at 14,174 units. The statewide median sales price growth trend continued in August, posting a 6.9-percent increase compared to August 2016. Click here to read more.

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