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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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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.