The Real Deal: Is a cooldown on the way for the New York housing market?
New numbers are out on the housing market for New York. Prices have been steep, but News 12's Kristie Reeter gets The Real Deal on if a cooldown is on the way.
Manny Pantiga with Pantiga Group says the last couple years have been busy. But this summer, he says the market has pulled back a little bit as far as buying activity.
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"After a 20% rise for home prices across the United States from March to March, we finally saw a little leveling off of prices in the New York area," says Caleb Silver, of Investopedia. "In New York, across the major counties we track, only Westchester County had a big increase at 0.7% in the last month, when we look at Nassau County only up about 0.4%, and Suffolk County 0.3%, but in New York City we actually saw a drop in home prices at 0.2%, a small drop but significant given how prices have climbed in the past year and a half," Silver says.