Industry News

New York home sales lose strength

Median home price grows $42,000 in one month

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Sales of existing single-family homes in New York fell in June from their year-ago levels, while the median home price increased significantly, according to preliminary single-family sales data accumulated by the New York State Association of Realtors. Sales in June reached 10,166, down 5.7 percent from the June 2005 sales total of 10,782. Year-over-year sales have been down in each of the past nine months, according to NYSAR. However, sales gains were reported in 21 counties in June compared to the same period a year earlier, with 39 counties reporting growth from the previous month. Schoharie County led the state in sales growth percentage compared to June 2005. The statewide median selling price rose 11.6 percent in June to $279,000, compared with the $250,000 median recorded in June 2005. The June median price increased nearly 18 percent compared to the previous month, which recorded a median sales price of $237,000. Forty-six counties reported gains in median selling price in J...