Hudson Valley Housing Market No Longer On The Rise
The housing market has been going up in the Hudson Valley, until recently. In certain parts of the Hudson Valley, the housing market has gone from going up, to going nowhere.
Lohud reports that the housing market has plateaued in the lower Hudson Valley. This report comes from two housing agencies, including the Hudson Gateway Multiple Listing Service, which is part of the Hudson Gateway Association of Realtors. These reports state that housing sales in Rockland, Putnam, and Westchester counties have all leveled out.
Don't let these numbers worry you, Lohud states that it shows the market is becoming more sustainable.
In 2017, there were a little over 14,000 housing sales in the area. This is only up 1.6% from 2016 sales. This is a drastic drop from 2015-2016, when sales increased by 9.5%, according to the article. On average, prices of homes increased within the three counties by 3.5% from 2016-2107. The number of houses for sale in the three counties also fell on average by 15.3%. Don't let these numbers worry you, Lohud states that it shows the market is becoming more sustainable.