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New-home sales increase in May nationally, fall for Northeast

Jun 27, 2017
The median price for a new single-family home reached a record high in May of $345,800, the Commerce Department reports. Buyers will be paying a huge premium for new construction, as new-home prices are now 16.8 percent higher than they were a year ago.

The higher price tags don’t seem to be spooking home shoppers nationally, with 61,000 new homes purchased in May. This is 2.9 percent higher than April and 8.9 percent higher than a year ago.

In the Northeast, new-home sales fell 10.8 percent.

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Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.