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Despite odds, ownership rate moves higher

Nov 01, 2017
Despite tight housing inventories and rising home prices, the homeownership rate rose slightly in the third quarter and reached the highest level since 2014, according to a recent report by the U.S. Census Bureau. The report also showed Americans are showing a preference for owning: The number of owner households increased by 755,000 from a year ago, while the number of renter households fell 348,000. 

Still, finding a home remains a challenge for many Americans. The inventory levels for both new and existing single-family homes is about 20 percent below the long-term average.

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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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