With a strong economy and low mortgage rates, buyer activity has been strong in most areas. However, most markets are being constrained by inventory levels that are still below historical norms. Low inventory in 2019 continued to push median sales prices up for the year. Inventory of homes for sale fell 8.4 percent to 56,214 units in 2019 compared to 2018. Median sales prices, in turn, climbed 7.4 percent to $290,000 compared to last year. In addition to the full December report, an infographic with key points and "The Skinny" video are also available.

As U.S. homebuilding increased in November, pending sales and new listings rose year-to-date in New York State in November compared to this time last year. Pending sales are up 2.7-percent year-to-date while new listings are also elevated, 0.8-percent to 197,965 homes. Median sales prices continued to climb, rising 3.7-percent in November to $280,000. In addition to the full November report, an infographic with key points and "The Skinny" video are also available.