From the NY Post Star:
Housing market slumping slightly
The New York state housing market has started the year a bit on the slow side, with sales of existing single-family homes dropping 14.2 percent from December 2006 to January 2007.
Year over year, however, the drop was not so severe. According to the New York State Association of Realtors, sales dropped just 1.4 percent between January 2006 and January 2007.
Regionally, the story was similar.
In Saratoga County, sales volume fell 22 percent from December 2006 to January 2007, but between January 2006 and January 2007, sales were flat, NYSAR said. Looking at an even larger period of time, sales from January 2005 to January 2007 increased by 4.6 percent.
The median selling price of existing single-family homes in Saratoga County followed the same type of trend.
Though the median sales price fell 10.5 percent from December 2006 to January 2007, between January 2005 and January 2007, the price rose 14.4 percent, NYSAR reported. (Note: Interesting that they choose to quote a two year spread here -jb)
…
“Most of 2006 was a seller’s market. The time houses spent on the market wasn’t long, and they’d sell quick,” Belanger said. “But the bubble hasn’t burst; the market’s just really leveled off. Houses are selling, but it’s taking more time.”