New Home Sales Finish 2015 Strong

New Home Sales Finish 2015 Strong
New_Home_Sales_StrongRecently released data found that December new home sales were up nearly 11 percent over November, and 9.9 percent over December 2014, according to the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.

The median sales price of new houses sold in December 2015 was $288,900; the average sales price was $346,400. The seasonally adjusted estimate of new houses for sale at the end of December was 237,000. This represents a supply of 5.2 months at the current sales rate.

An estimated 501,000 new homes were sold in 2015. This is 14.5 percent ( 4.5 percent) above the 2014 figure of 437,000.

“The best pieces of data in the new home sales report were that the median and average new home prices continue to decline, which is a result of builders offering more entry-level and affordable homes,” says Realtor.com Chief Economist Jonathan Smoke. “This is what we need to see if builders are aiming to grow sales to first-time buyers by providing more affordable, entry-level homes. However, prices had shifted up late this summer and early fall, and that’s also when new home sales weakened. If this decline in price holds, the 16 percent gain in new home sales we have forecasted for 2016 should come to fruition.”

“December’s jump in new home sales rounded out a year which witnessed a steady rise in the health of the housing market,” notes Quicken Loans vice president Bill Banfield. “While still depressed from a historical perspective, we should be encouraged about the continued housing recovery going into the bulk of 2016.”

SCHENECTADY 1336-1338 SANTA FE GREAT INVESTMENT REDUCED FOR QUICK SALE

  • Great investment opportunity with $1,350 per month in rental income. Or owner occupy one unit and let your tenant pay part of the mortgage for you.
  • Nice 2 car garage.
  • Covered front porch.
  • Walk to schools,
  • Easy access to I-890, N.Y.S. thruway.
  • Close to General Electric main plant.
  • Short drive to the new casino downtown.

For most recent price and more property information click here:

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CASTLETON 884 DUTCH WAY BANK OWNED JUST REDUCED

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  • 884 Dutch Way, Castleton On Hudson, NY 12033
    3 beds 1.1 baths 1,352 sqft
  • Newer Colonial just a short drive from the capital. Home sits on a corner lot with a large deck off the back of the home perfect for entertaining. CASH or REHAB offers only.
    Lot: 0.36 acres
    Single Family
    Built in 1995
    MLS #: 201602498
    FEATURES
    Parking: 264 sqft garage
  • Zestimate $208,912

Email us to express your interest or to ask questions GAGEREALTY@GMAIL.COM

 

 

2866 BROADWAY ROTTERDAM REMODELED REDUCED AGAIN

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  • Recent refresh done. New carpeting, new paint, new hot water tank, new ceiling fan.
  • Great starter home
  • Large eat in kitchen.
  • Full basement
  • Rear yard and parking area.
  • Small rear deck.
  • Covered front porch.
  • Entrance is from Howe Street.
  • E-mail all questions please: GAGEREALTY@GMAIL.COM

 

815 PLYMOUTH AVE SCHENECTADY, NY 12308 BANK OWNED JUST LISTED UNDER 60K

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  • 3 Bedrooms
  • 2 bathrooms
  • Fireplace
  • Master suite second floor has a bedroom and a private half bathroom. Lots of unfinished space in the rest of the second floor for suite expansion or possible additional bedroom.
  • Full basement
  • One car garage needs a lot of  work and might be better to tear down.
  • Email us if interested, please. GAGEREALTY@GMAIL.COM
  • See below for photo gallery