Westchester County home prices remain high due to low inventory

Is now the right time to buy a home? That question is the question every realtor gets.

"Inventory is very low right now, but prices are still rising in the Westchester market area," said White Plains-based real estate broker Gino Bello.

Bello says over the past few months, home inventory is so low that when a house hits the market, it’s still going over asking. "The interest rates were at 2.8%, then they started rising at a very rapid rate. Then in October they were sky-high, giving buyers a lot less buying power."Home mortgage rates, though, have skyrocketed since last year and experts say that is why U.S. home prices have fallen year over year for the first time since 2012.

According to real estate firm Redfin, the average home sold for just over $350,000 for the four weeks ending the month of February. The sale price was down 0.6% compared to February 2022.

Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

fox5ny /  🏆 587. in US

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

Jack & Jill of America celebrating regional teen conference this weekend in Westchester CountyJack & Jill of America will host its regional teen conference this weekend in Westchester. EFinchTV has a look at how the organization became a pillar of the African American community.
Les mer »

PREP SOFTBALL: Dale County pulls away to beat county rival AritonDale County scored eight runs in the bottom of the sixth to pull away from a one-run lead in a 14-5 win over county rival Ariton on Wednesday.
Les mer »

Fallen boulder damages road in La Plata CountyA large boulder fell on County Road 213 in La Plata County on Monday night, damaging the southbound lane.
Les mer »

Nassau County family lucky to be alive after carbon monoxide incidentTheir house on Buchanan Road was filled with deadly levels of carbon monoxide, and the fire marshal says they did not have carbon monoxide detectors.
Les mer »

Dauphin County to double reward for crime tips, up to $4,000The reward amount will be determined by the tip’s value and the crime’s severity.
Les mer »