As we settle into the year 2016, it’s time for the Home Guru to report on the closing of the fourth quarter of the housing market in 2015 and to take a look into his crystal ball and see how experts say it might behave in the months ahead.Closing out 2015: Just in are the results of the last three months that show continued heavy residential sales volume in Westchester with strong economic conditions in the region as well as declining affordability in New York City as key motivators of demand.Listing inventory fell 4.1 percent to 3,814, the lowest fourth quarter total since 2004. The absorption rate, which is the number of months to sell all listing inventory at the current rate of sales was 4.7, 14.5% faster than a year ago and the fastest market pace we’ve seen since 2003.Days on the ...
Comments
1