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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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Empire State home sales stay at elevated level during April

Against the backdrop of fewer homes on the market, homebuyers in New York State closed 8,640 sales during April, falling only 2.6 percent from April 2017. The median sales price growth trend continued, increasing by nearly 12 percent compared to last April to reach $260,000 for the month. Click here to read more.

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