The Long Island Market
I think the housing market on Long Island is similar to New Jersey. Like New Jersey, Long Island has lots of people that commute to NYC everyday. In addition, like the Shore, it has lots of vacation homes.
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"Yet, in a possible sign of a slowdown, the increase in home prices has been more moderate than in recent years. In August 2004, the median home price Islandwide had jumped 13.3 percent from the same period of the year before.
And, according to the MLS report, inventory went up to 20,485 in August, a 23.7 percent increase compared with the same period last year.
Given these figures, some believe a dip in home prices is on the horizon."
Snip...
"Yet, in a possible sign of a slowdown, the increase in home prices has been more moderate than in recent years. In August 2004, the median home price Islandwide had jumped 13.3 percent from the same period of the year before.
And, according to the MLS report, inventory went up to 20,485 in August, a 23.7 percent increase compared with the same period last year.
Given these figures, some believe a dip in home prices is on the horizon."
posted by Little_Silvered at 9:19 PM
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