The state had a 17 percent increase in third quarter single-family home sales when compared to the third quarter of last year, according to the NYSAR report. The median sales price for homes decreased slightly in the third quarter of this year as compared to last year, which may have been the catalyst of the sales increase.
"While the solid third quarter and September home sales totals are encouraging, the overall 2011 housing market continues to experience an uneven recovery," said Duncan R. MacKenzie, CEO of the NYSAR. "Even with the double-digit sales increase in the third quarter, the 2011 housing market remains 7.3 percent behind the federal tax credit-driven 2010 market through September 30."
Despite the healthy number of people moving during the third quarter, New York Realtors sold 53,145 existing single-family homes between January 1 and September 30 of 2011, which is a 7.3 percent decrease from the 57,630 sold during the same period in 2010, NYSAR figures showed.
According to a Business Insider article, 11 million Americans are still struggling, as they were underwater on their mortgage, unemployed or delinquent on payments.
More News