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NAR: Pending home sales tumble in May for third straight month

Jun 29, 2017
The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to the National Association of REALTORS’ Pending Home Sales Index, a forward-looking indicator based on contract signings. 

In the Northeast, pending home sales decreased 0.8 percent to 96.4 in May, but remain 3.1 percent above a year ago.

Nationwide, pending home sales also fell 0.8 percent to 108.5, 1.7 percent below a year ago.

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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.