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December closes with positive signs for New York housing

Albany, NY – January 20, 2026 – New York’s housing market wrapped up 2025 on a positive note with both closed and pending sales finishing the year ahead of last December, while home prices continued their steady climb across the state, according to the housing report released today by the New York State Association of REALTORS®.

Closed sales rose modestly in December, increasing from 9,416 homes sold in December 2024 to 9,649 sales recorded last month. This represents a 2.5 percent year-over-year gain. Pending sales also moved higher, rising 2.1 percent from 6,214 homes under contract one year ago to 9,649 in December 2025. New listings, however, edged lower, slipping 1.3 percent from 5,974 in December 2024 to 5,899 this past month.

Home prices continued their steady upward trend, extending a streak of 29 consecutive months of rising values. The median sales price increased 4.2 percent year-over-year, reaching $440,000 in December, compared to $412,000 in December 2024.

Inventory tightened slightly as the year came to a close, declining 2.4 percent from 23,978 homes on the market in December 2024 to 23,405 available properties last month. This marked the first monthly drop in housing supply since February.

There was some welcome news for buyers on the financing front. According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage dipped to 6.19 percent in December 2025, down from 6.24 percent in November and well below the 6.72 percent average recorded in December 2024.

Additional data is available at http://www.nysar.com/industry-resources/market-data.

Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums, and existing single-family homes.

Statement from Ron Garafalo, 2026 President of the New York State Association of REALTORS®, on Governor Hochul’s State of the State Address

Albany, NY – January 13, 2026

New York State’s nearly 60,000 REALTORS® support the intent of Governor Kathy Hochul’s “Let Them Build” agenda.  Changing the culture that currently impedes home building is one key to solving the housing shortage crisis.  Too many New Yorkers have lost the opportunity for generational wealth accruing from homeownership, but we hope Governor Hochul and state lawmakers can act now before another generation loses out.

REALTORS® across the state see firsthand how limited housing inventory and rising costs are impacting families, first-time homebuyers, renters, and seniors in every region of New York.  From modifying the State Environmental Quality Review process, to supporting the development of more starter homes for young people, NYSAR sees several timely proposals in the Governor’s State of the State presentation.

As the voice for real estate in New York State, New York’s REALTORS® remain committed to partnering with policymakers on smart, balanced housing initiatives that protect property rights, help build generational wealth, strengthen communities, and expand access to housing statewide.

We look forward to reviewing the Governor’s Executive Budget proposals in detail and working with her administration and the Legislature to advance policies that expand housing opportunities and strengthen affordability.

Prices up, Sales down across New York heading into winter

Albany, NY – December 19, 2025 – Home sales across New York State slowed in November, as closed sales declined and new listings and pending sales dipped slightly, while home prices continued to post strong gains, according to the housing report released today by the New York State Association of REALTORS®.

Closed sales fell 9.1 percent year-over-year, decreasing from 9,030 homes sold in November 2024 to 8,207 sales recorded in November 2025. Pending sales also edged lower, down 0.7 percent from 7,810 accepted offers last November to 7,757 this November. New listings declined 2.4 percent, slipping from 8,555 homes coming onto the market in November 2024 to 8,352 new listings in November 2025.

While sales dipped, home prices continued to rise. The median sales price increased 5.0 percent year-over-year, climbing from $400,000 in November 2024 to $420,000 last month. This marks 28 consecutive months of rising median home prices in year-over-year comparisons.

Housing inventory continued to expand modestly, increasing 0.9 percent from 27,467 homes available in November 2024 to 27,715 properties on the market this past month.

Mortgage rates continued to hold steady in November. According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage was 6.24 percent in November 2025, down slightly from 6.25 percent in October. By comparison, rates averaged 6.81 percent in November 2024, reflecting over a half a percentage point year-over-year decline.

Additional data is available at http://www.nysar.com/industry-resources/market-data.

TAKE ACTION NOW – Tell the NYC Council to pass NYSAR supported Coop Transparency Bill

NYSAR supported legislation (Int. 1120-B) could be voted on by the full New York City Council on December 18. If passed, the bill will provide increased transparency and disclosure to the cooperative housing application and purchase process in New York City by establishing reasonable timelines for coop boards to respond to prospective applicants. If you live in New York City, please join the REALTOR® Advocacy efforts urging the New York City Council to pass Int. 1120-B in New York City.

Click here and TAKE ACTION today!

Closed Sales Climb as New York’s Housing Inventory Continues Its Upward Trend

Albany, NY – November 20, 2025 – Key housing indicators across New York State maintained positive momentum in October, as new listings, pending sales, and closed sales all increased while inventory expanded for the eighth consecutive month, according to the housing report released today by the New York State Association of REALTORS®.

Closed sales rose 3.2 percent, increasing from 9,949 homes sold in October 2024 to 10,265 sales recorded in October 2025. Pending sales also saw a boost, up 2.9 percent year-over-year comparisons from 9,795 accepted offers in October 2024 to 10,082 in October 2025. New listings inched up 0.4 percent, rising from 12,590 in October 2024 to 12,637 new homes hitting the market last month.

Housing inventory continued its steady upward trend, increasing 2.1 percent from 29,586 homes on the market in October 2024 to 30,213 available properties in October 2025. This marks eight straight months of expanding supply across the Empire State.

Median sales prices remained strong for sellers, rising 5.1 percent year-over-year from $410,000 in October 2024 to $431,000 last month.

Mortgage rates remained a key factor across the state. According to Freddie Mac, rates on a 30-year fixed rate mortgage averaged out to 6.25 percent, down from 6.35 percent last month. By comparison, in October 2024 the average rate stood at 6.43 percent.

Additional data is available at http://www.nysar.com/industry-resources/market-data.

New Listings and Pending Sales Climb as Fall Market Gains Momentum

 Albany, NY – October 23, 2025 – Key indicators such as new listings and pending sales increased in September while housing inventory across New York escalated for the seventh consecutive month, according to the housing report released today by the New York State Association of REALTORS®.

New listings of homes jumped 5.5 percent in year-over-year comparisons from 12,858 listings in September 2024 to 13,564 homes on the market last month. Pending sales also rose from 8,972 listings last September to 9,626 homes in September 2025 marking a 7.3 percent increase. Closed sales remained steady from 9,694 homes sold across the Empire State in September 2024 to 9,697 homes in 2025.

Inventory of homes escalated 4.1 percent in September from 30,035 units on the market in 2024 to 31,267 homes available in September 2025. This marks seven consecutive months of increasing housing inventory in the Empire State.

Mortgage rates showed signs of improvement heading into the fall. Freddie Mac reported the average 30-year fixed rate at 6.35 percent in September 2025, down from 6.59 percent in August 2025. A year earlier, in September 2024, the average rate stood at 6.18 percent.

Median sales prices across the Empire State continue to climb, inching up 3.0 percent from a median price of $415,000 in September 2024 to $427,628 in September 2025.

Additional data is available at http://www.nysar.com/industry-resources/market-data.

Data and analysis compiled for the New York State Association of REALTORS® by Showing Time Inc.

REALTOR® priority bill included in package of housing bills signed into law by Governor

On October 16, Governor Kathy Hochul signed into law a package of bills that creates tax incentives to make homeownership more affordable, including legislation expanding tax incentives for the redevelopment of vacant properties into housing. Also included in the package are bills that address home appraisal discrimination and increased protections for tenants. The following bills were signed into law:

  • Legislation (A.6770/S.7285)will make available an opt-in tax incentive to incentivize redevelopment of vacant or abandoned properties into one-to-four family homes for use as affordable homeownership or rental housing. REALTORS® supported this bill during NYSAR’s 2025 Lobby Day.
  • Legislation (A.6869/S.7320)strengthens laws and policies to combat home appraisal discrimination by making it a violation of the State’s Human Rights Law to discriminate when providing real estate appraisals or in making such services available.
  • Legislation (A.3470/S.7413)requires notice to be provided ninety days prior to commencement of a foreclosure action by a homeowners’ association or condominium board lien for unpaid common charges, assessments, fines or fees.
  • Legislation (S.7882/A.1417-B) bans collusion using algorithm-enabled rent price fixing.
  • Legislation (S.952-B/A.6423-A)extends existing security deposit protections to rent-regulated tenants.
  • Legislation (A.56-B/S.3845-B) limits the fees a landlord could collect due to a bounced check to the greater of $20 or the costs the landlord incurred.

Read more here.

Applications being accepted for NYSAR Leadership Academy 8 through October 31

NYSAR is now accepting applications for Leadership Academy 8 through October 31, 2025.

The New York State Association of REALTORS® Leadership Academy identifies, educates, and inspires future leaders in a professional, supportive environment. NYSAR is seeking applicants representing a cross-section of the profession. In addition to their real estate and REALTOR® association activities, these leaders and potential leaders should be active in; business, education, the arts, government, community organizations, ethnic or minority groups, or real estate specialty areas, and will reflect the diversity of the New York State Association of REALTORS®.

LA8 RETREAT SCHEDULE/LEARNING MODULES:

Retreat 1 – March 8-10, 2026 – Location TBD – “Leveraging Your Leadership Style”

Retreat 2 – April 12-14, 2026 – Location TBD – “Leading in an Organization”

Retreat 3 – May 3-5. 2026 – Location TBD – “Find Your Voice”

Retreat 4 – May 31-Jun 1, 2026 – Location TBD – “Writing Your Story”

Retreat 5 – Aug 2-4, 2026 – Location TBD – “Everything Matters”

Graduation – General Session (TBD – Sept 15-18) – FBM – Verona NY

INTERVIEWS:

Interviews will be conducted via zoom on December 1, 2025, and December 3, 2025 please keep your calendars clear for both days

For an application for Leadership Academy 8, click here.

 

Inventory continues to climb in New York as mortgage rates fall

Albany, NY – September 25, 2025 – Housing inventory in New York continued its upward climb in August as mortgage rates showed signs of easing, according to the housing report released today by the New York State Association of REALTORS®.

Statewide inventory increased 5.5 percent in year-over-year comparisons, rising from 29,090 homes available in August 2024 to 30,684 units last month. This marks the sixth consecutive month of growing supply across the Empire State.

New listings also edged higher, up 1.4 percent from 12,682 in August 2024 to 12,856 in August 2025. Pending sales followed suit, rising 1.5 percent to 10,173 transactions compared to 10,023 a year prior. Closed sales did however fall, decreasing from 11,036 homes sold in August 2024 to 10,517 sales just last month. This marks a 4.7 percent decrease in year-over-year comparisons.

Mortgage rates provided some relief for buyers. The average 30-year fixed rate dropped to 6.59 percent in August, according to Freddie Mac. While slightly higher than the 6.50 percent average in August 2024, rates have eased from 6.72 percent just one month earlier.

Median prices across the Empire State continue to climb, jumping 5.7 percent from a median price of $435,000 in August 2024 to $460,000 in August 2025.

Additional data is available at http://www.nysar.com/industry-resources/market-data.

Home prices in New York hit an all-time high as inventory rises

Albany, NY – August 21, 2025 – The median price of homes for sale across New York hit historic heights in July while inventory continued to improve statewide, according to the housing report released today by the New York State Association of REALTORS®.

Median home sales prices hit a record high of $451,000 last month. This is up 4.9 percent from the $430,000 price tag in July 2024. This marks the highest monthly median sales price since statistics have been kept in New York State. The last time there was a decrease in median home sale prices in year-over-year comparisons was July 2023.

New York’s housing inventory climbed 5.1 percent in July, from 29,562 homes available across the state, to 31,065 units on the market last month. This marks five consecutive months of increasing inventory statewide.

New home listings kept pace in July, rising 6.0 percent from 13,684 listings in July 2024 to 14,511 new homes on the market in 2025.  Closed sales were down from 10,286 homes last year to 10,046 in July 2025. This represents a 2.3 percent decline. Pending sales were also down slightly, falling 0.7 percent from 10,629 sales in July 2024 to 10,553 pending sales just last month.

According to Freddie Mac, rates on a 30-year fixed-rate mortgage dipped slightly from 6.82 percent in June to a monthly average of 6.72 percent in July. That’s a slight decline compared to July 2024, when rates averaged out at 6.84 percent.

Additional data is available at http://www.nysar.com/industry-resources/market-data.

 

New York housing inventory hits 3-year high in June

Albany, NY – July 23, 2025 – Inventory levels of homes across New York in June climbed to their highest point in nearly three years, according to the housing report released today by the New York State Association of REALTORS®.

Statewide housing inventory reached 30,254 units last month, marking a 3.9% increase from June 2024’s total of 29,110 available homes. This represents the fourth consecutive month of inventory growth and the most homes on the market in New York since November 2022.

New home listings also saw a healthy boost, rising 5.9 percent from 14,150 listings last June to 14,985 homes on the market in June 2025. Pending sales were also up from 10,327 sales in June 2024 to 10,642 homes last month. This represents a 3.1 percent increase in year-over-year comparisons. Closed sales, however, did tick slightly lower, falling 1.3 percent from 8,996 sales in June 2024 to 8,879 homes in June 2025.

Mortgage rates gradually declined throughout June, ending the month with an average 30-year fixed-rate of 6.82%, according to Freddie Mac. That’s a modest improvement compared to the same time last year when rates averaged 6.92%.

Home prices continued their upward trajectory for the twenty third straight month. The median sales price of a home in June 2025 was $448,115, up 1.8 percent from the $440,000 price tag in June 2024.

Additional data is available at http://www.nysar.com/industry-resources/market-data.

 

Sign up for a 2026 NYSAR committee!

Your voice matters. By serving on a NYSAR committee, forum, working group, or foundation in 2026, you’ll play a direct role in shaping decisions that impact REALTORS® across New York and help guide the future of our industry.

Consider sharing your time, insights, and expertise by volunteering for committee service. It’s a powerful way to stay informed on key issues, contribute to meaningful progress, and deepen your connection to the REALTOR® community.

All NYSAR members are encouraged to participate. You may sign up for up to four open committees and request up to three closed committees of the more than 30 NYSAR committees available in 2026. All committee requests will be vetted by the NYSAR Leadership Team.

We ask you to be sure that you’ll be able to attend the following 2026 Business Meetings before committing to serve:

  • Mid-Winter Business Meetings: February 8-12, 2026 – The Crowne Plaza, Desmond Hotel, Albany, NY
  • Fall Business Meetings: September 15-18, 2026 – Turning Stone Resort & Casino, Verona, NY

NYSAR committee sign-up is available right now through July 31. Click here to sign up for a 2026 NYSAR committee.

Committee involvement is both personally and professionally rewarding. You’ll gain valuable knowledge, expand your network, and build lasting relationships with colleagues from all corners of the Empire State.