ALBANY, N.Y. — New York realtors closed on the sale of 7,155 previously owned homes in April, up 1.5 percent from the 7,046 existing homes they sold in April 2023. Pending sales climbed more than 6 percent in April, pointing to further increases in closed home sales in the next couple months, according to the […]
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ALBANY, N.Y. — New York realtors closed on the sale of 7,155 previously owned homes in April, up 1.5 percent from the 7,046 existing homes they sold in April 2023.
Pending sales climbed more than 6 percent in April, pointing to further increases in closed home sales in the next couple months, according to the April housing report that the New York State Association of Realtors (NYSAR) issued on May 22.
“Home sales and new listings showed new life, rising across the Empire State in April, despite mortgage rates exceeding seven percent for the first time this year,” NYSAR said to open its housing report.
NYSAR cited Freddie Mac as indicating mortgage rates exceeded 7 percent in April for the first time in 2024. Interest rates peaked at 7.17 percent in April, settling on an average monthly rate on a 30-year fixed-rate mortgage of 6.99 percent. A year ago at this time, the interest rate stood at 6.34 percent. Freddie Mac is the more common way of referring to the Virginia–based Federal Home Loan Mortgage Corporation.