New York State Realtors said pending sales climbed 11.6 percent from 11,462 units this time last year to 12,614 homes in November 2021.
According to Freddie Mac, the monthly average on a 30-year fixed-rate mortgage in November remained at 3.07 percent.
Months supply of inventory fell to 2.8 months in November 2021 – a 34.9 percent drop from the 4.3 months of supply in November 2020.
The price of lumber skyrocketed to a peak of $1,686 per thousand board feet in May, and has widely fluctuated since.
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