New York State continues uneven housing recovery in July

New York State home sales were up more than 16 percent in July compared to July 2010, but failed to keep pace with the June sales total, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price posted gains compared to both last month and July 2010.

“The July sales total shows us that there is no clear trend to the overall New York State housing market,” said Duncan R. MacKenzie, NYSAR chief executive officer. “However, a third straight month of price appreciation indicates that at least one measure of the market is showing sustained progress.”

“Poor national economic news, including troubling unemployment numbers, continues to undermine consumer confidence in home buying in New York despite a near-perfect storm of historically low interest rates and plentiful inventory across the pricing spectrum.”

New York REALTORS sold 6,838 existing single-family homes in July, an increase of 16.3 percent from the July 2010 total of 5,882. The July 2011 sales total declined by 4.6 percent from the June 2011 total of 7,169.

The July 2011 median sales price of $225,000 represents an increase of 2.3 percent from both the June 2011 and July 2010 median sales prices, which were both $220,000.

Note from Gini: Remember, Real Estate is regional. New York State is still faring better than many states. The Rochester market is consistent. Our houseing prices have been stable and in some areas rising.