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Syracuse, NY tops national housing affordability chart for second straight quarter

May 14, 2015
Lower interest rates and home prices contributed to a solid boost in nationwide affordability in the first quarter of 2015, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). 
 
For the second straight quarter, Syracuse, NY remained the nation’s most affordable major housing market, as 95.6 percent of all new and existing homes sold in the first quarter of 2015 were affordable to families earning the area’s median income of $68,500. Elmira, NY was at the top of the affordability chart for smaller housing markets. 
 
New York-White Plains-Wayne, NY-NJ was one of the major metros at the bottom of the affordability chart. 
 
In all, 66.5 percent of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median income of $65,800. This is up from the 62.8 percent of homes sold that were affordable to median-income earners in the fourth quarter.
 
Click here to read the entire NAHB press release.
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NYS home sales post second-highest May total

Homebuyer activity remained strong in May, driving the New York State housing market to the second-highest sales total for the month with 10,348 closings. May 2018 closed sales were 8.6 percent lower than the record of 11,322 set in May 2017. The median sales price growth trend continued, increasing by 11.5 percent compared to last May, ending the month at $262,000. Click here to read more.

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