The Westchester housing market continues to improve. Listing inventory continued to fall consistent with the rest of the metro area, but the number of sales reached their highest point in over 30-years. However, the rising mortgage rates will make this new record hard to beat. Housing prices increased somewhat last year and properties sold more quickly. We expect more of the same over the coming quarters but without records. Like its neighbor to the south, the Putnam housing market had a lot more sales this quarter than last year and buyers had fewer properties to choose from. Although properties took a little longer to sell, housing prices remained stable, which is what we anticipate in the coming quarters.
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