Home sales in the third quarter of the year in counties that are members of the Hudson Gateway Association of Realtors increased dramatically.
Percentage-wise, Sullivan County topped the region with a 45.5 percent increase in single-family home sales when compared to the same period in 2019.
Westchester County sales by 12 percent, Putnam sales grew by 8.4 percent, Orange County sales rose by 7.9 percent, and Rockland County saw 4.8 percent growth.
Much of the increase can be attributed to people moving north because of the coronavirus.
Prices have also risen, but realtor Ron Garafalo does not think the high demand will last sustain sales.“Prices are significantly higher and to what level are those prices going to continue to stay at that high number,” he said. “I think in the short term, the interest will be there, but I think it will level off in the future. Whether that is six months or nine months, but I think it is more of short term.”
NEWS STORY PROVIDED BY: Mid Hudson News -www.midhudsonnews.com