LI Home Prices Rise As Listings Dwindle, MLS Report Says

long island home prices

Long Island’s dwindling supply of homes for sale drove up housing prices last month. In Suffolk County, the median sales price increased by 6.5 percent compared with the previous August, to $375,000, the Multiple Listing Service of Long Island reported Thursday. Nassau County homes traded for a median price of $515,000, up 6.2 percent from a year earlier. There were 7,345 homes listed for sale in Suffolk last month, down 15 percent from the previous August. In Nassau, buyers had 5,008 listings to choose from, an annual decline of 11.6…

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Homebuyers More Confident In The Housing Market

first-time homebuyers

The confidence of consumers in the US housing market has hit an all-time high. The Fannie Mae Home Purchase Sentiment Index was up 5.6 percentage points in February to 88.3 with three of its components also hitting record levels. The net share of those who think now is a good time to buy was up 11 per cent while those who think it’s a good time to sell rose 7 per cent. Household income was significantly higher than 12 months ago rose 4 percentage points while concern about job losses…

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Builders Expect Stronger New Home Market

Builders Expect Stronger New Home Market - Laffey Knows

The new home market is particularly important to the health of the overall housing market. That’s because any improvement in the number of new homes being built helps inventory levels, which also helps moderate prices and balance supply and demand. Currently, buyer demand is high and the number of homes available for sale is low. So now is a good time to keep an eye on what’s happening in the market for newly built homes. One good indicator of where the market stands is the National Association of Home Builders…

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Lenders Feeling Optimistic In Their Market Outlook

Outlook Finds Lenders Feeling Optimistic - Laffey Knows

Applying for a loan is often the first step a buyer makes toward becoming a homeowner. And, because lenders are a buyer’s first stop, they’re often the first to notice which way the housing market is trending. For this reason, Fannie Mae conducts a quarterly survey that gauges current mortgage activity and how optimistic creditors feel going into the next quarter. According to the results of the most recent survey, mortgage lender sentiment has rebounded after seeing declines in previous quarters. Doug Duncan, Fannie Mae’s senior vice president and chief economist,…

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