New York home sales slide in April amid higher inventory and steady mortgage rates
/EIN News/ -- ALBANY, N.Y., May 22, 2025 (GLOBE NEWSWIRE) -- Despite a slight uptick in housing inventory and continued mortgage rates below seven percent, existing home sales in New York State declined in April, according to the housing report released today by the New York State Association of REALTORS® (NYSAR).
Closed sales of homes fell 6.2 percent in April, from 7,428 homes in 2024 to just 6,968 units last month. Pending sales inched up to 9,565 sales in April 2025 from 9,471 during April 2024, representing a slight 1.0 percent increase. New listings of homes in the Empire State rose 5.6 percent, from 13,246 listings in April 2024 to 13,989 listings in 2025.
Statewide housing inventory was up 3.1 percent in year-over-year comparisons, from 25,379 homes on the market last April to 26,165 units available in April 2025.
Mortgage rates remained under seven percent for the 14th consecutive month during April according to Freddie Mac. The average rate on a 30-year fixed rate mortgage during April closed at 6.73 percent. By comparison in April 2024, the rate sat at 6.99 percent.
The median price of homes in New York rose again, marking 21 consecutive months of gains. In April 2024, the median home price was $410,000, which is 3.7 percent below the $425,000 price in April 2025.
Additional data is available at http://www.nysar.com/industry-resources/market-data.
Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums, and existing single-family homes.
The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 63,000 of New York State’s real estate professionals. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®. These REALTORS® are also members of the New York State Association of REALTORS® as well as their local board or association of REALTORS®.
Scott Morlock
Director of Communications
518-463-0300 x208 office
smorlock@nysar.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9374edfd-73fd-457e-9007-ba7326073b1e
NYS April Housing Market Snapshot
NYS April Housing Market Snapshot
Distribution channels: Media, Advertising & PR, Real Estate & Property Management
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release