ALBANY — New York realtors sold 9,138 previously owned homes in December, up 3.7 percent from the 8,814 existing homes sold in December 2023. The increase came despite a record-low inventory of homes available for sale in the state. Pending sales also rose by a similar amount in the latest month, foreshadowing further gains in […]
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ALBANY — New York realtors sold 9,138 previously owned homes in December, up 3.7 percent from the 8,814 existing homes sold in December 2023. The increase came despite a record-low inventory of homes available for sale in the state.
Pending sales also rose by a similar amount in the latest month, foreshadowing further gains in closed sales in the next couple of months, the New York State Association of Realtors (NYSAR) said in its December housing report issued on Jan. 24.
“Home sales inched upwards in December despite housing inventory reaching its lowest point in recorded history,” NYSAR said to open its report.
NYSAR cites Freddie Mac as indicating interest rates dropped slightly in December. The average rate on a 30-year fixed rate mortgage ended the month at 6.72 percent, which is lower than the November average rate of 6.81 percent. For comparison, a year ago, the interest rate stood close to November’s average rate of 6.82 percent.
Freddie Mac is the more common way of referring to the Virginia–based Federal Home Loan Mortgage Corporation.