Suburban NYC home shortage means would-be buyers coming coming up empty

Listings for single-family homes are getting scarcer in New York City’s suburbs, and that’s putting a dent in sales.

Contracts to purchase houses declined last month for the first time in more than a year in some areas across the region, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.

Signed deals fell 36% in Westchester County and 31% in Long Island’s closer-in suburbs—the first year-over-year drop for each since June 2020. The Hamptons contracts had their second consecutive decrease since May 2020, with deals in July falling a much-larger 61%.

Demand for houses is still high among city dwellers

Facebook Notice for EU!
You need to login to view and post FB Comments!

→ Continue reading at Crain's New York Business

[ufc-fb-comments url="http://www.newyorkmetropolitan.com/news/suburban-nyc-home-shortage-means-would-be-buyers-coming-coming-up-empty"]

Latest Articles

Related Articles