Economic Perspectives
Existing Home Sales in FHLBNY Area Held Up Better Than the Nation,
Region in 2018
Authored by Brian Jones, FHLBNY Financial Economist
Highlights
February 4, 2019
- Existing home sales fell across the country in 2018, but activity in the FHLBNY area was little changed
- Local sales performance even more impressive given downtrend in available stock of homes
- Price increases, reduced affordability had a limited effect on sales in New York and New Jersey
- Amidst limited supply, rising prices and reduced affordability, FHLBNY district remains a seller’s market
- Outlook for sales in the Empire and Garden States appears positive beginning the New Year
Data compiled by realtor associations in New York and New Jersey indicate that the majority of the FHLBNY coverage area outperformed both the region and the nation as a whole…
Disclaimer. The Federal Home Loan Bank of New York (“FHLBNY”) is providing this report for informational purposes only. This report should not be construed as an opinion, recommendation, or solicitation regarding the use of any financial strategy and/or the purchase or sale of any financial instrument. The recipients of this report are advised to conduct their own independent due diligence and consult with financial advisors, accountants, and attorneys before making any investment, credit, or any other financial decisions. FHLBNY does not warrant the completeness or accuracy of this report. The past performance of any FHLBNY service or product should not be viewed as a guarantee of future results. The information contained in this report, as well as the services and products provided by the FHLBNY, may change at any time without notice.
Latest News
07/25/2024
FHLBNY Announces Second Quarter 2024 Operating Highlights
07/22/2024
The 2024 Small Business Recovery Grant Program
07/09/2024
Report from the President: Making an Impact
12/03/2021
Updates to the 2022 Fee Schedules
07/30/2020
FHLBNY CICA Disaster Relief Funding: Eligibility Expansion