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New data also show median home prices cooled off.
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August home sales in Central New York dropped by 11% compared to last year. Despite a 30% increase in homes listed for sale, the median home price rose 8.7% to $250,000.
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Low inventory is also a problem. Can the state and county eliminate barriers?
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The costs of homes in January are up $7,000 from the same time last year.
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Median home prices set another record in Central New York for the second consecutive month.
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The Greater Syracuse Association of Relators reports that rising mortgage rates coupled with high home prices are making buyers more selective.
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Data provided by the Greater Syracuse Association of Realtors shows there are more houses listed at higher prices.
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Drops in sales and prices should ramp up when springtime hits, according to the Greater Syracuse Association of Realtors.
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Central New York’s housing market is starting to bounce back after the pandemic slowed down real estate transactions for most of the spring. The lack of…