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NAR: 2016 marked best year for sales in a decade

Jan 26, 2017
Existing-home sales finished out 2016 as the best year since the housing boom days, according to the National Association of REALTORS (NAR). Total existing-home sales – which are completed transactions that include single-family homes, townhomes, condos, and co-ops – closed 2016 at 5.45 million sales, surpassing 2015 (5.25 million). It was the highest total for existing-home sales since 2006 (6.48 million). 

“Solid job creation throughout 2016 and exceptionally low mortgage rates translated into a good year for the housing market,” says Lawrence Yun, NAR’s chief economist.

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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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