New York State Monthly Housing Survey
According to the New York State Association of Realtors.
A good indicator of the general health of the economy is sales activity and prices of homes in your community. Generally, growing home sales and prices are a good indication of a vibrant local economy.
The New York State Association of Realtors, a statewide trade association, issues a monthly report detailing single-family home sales called the Monthly Housing Survey.
The Monthly Housing survey is a poll of over 60,000 member realtors of the association on real estate activity on sales of existing single-family homes. The association represents, and has data available for realtors in all but Bronx, Franklin, Hamilton and New York counties.
There are several things to keep in mind when examining this information. The information issued each month is preliminary and is subject to updates in the following month as additional information becomes available.
Real Estate is a long term investment and housing prices and sales have seasonal fluctuations in both demand and price depending on the time of year in which the survey in conducted. Typically, demand and prices increase during “non-school” months particularly during the summer.
Median housing prices can also fluctuate depending on the types and number of homes for sale at any one point in time.
In order to get a better indication of trends in your community, housing sales activity should be examined more on a year to year basis rather than monthly to get a clearer indication of housing trends in your community.
For more information about the Monthly Housing Survey visit the website of the New York State Association of Realtors at:
http://www.nysar.com/consumers/stats.asp
