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Reports And Guides

2Q - 2013 Westchester And Putnam Sales

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Report Summary

The Westchester housing market has experienced the most active second quarter in 8 years. Inventory continued to fall, reaching an 8-year low for the spring market. With a brisk pace of signed contracts in the second quarter, we expected a high level of closings in the next quarter and limited new inventory to enter the market. However, the shortage of supply has only caused a slight gain in prices. We see rising interest rates as a sign of an improving economy and anticipate continued improvement through the rest of the year.

The Putnam housing market followed the region-wide trend with the surge in sales and decrease in inventory compared to the last year's levels. Although housing prices slipped and marketing time expanded, the market continued to show general stability as it has over the past two years. We expect to see this market continue to move sideways over the next several quarters.

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