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by Gazette staff

Your Business

A Daily Gazette news blog
Business coverage from around the region

Housing sales up in August

Housing sales continued to improve across the Capital Region last month, according to statistics released today by the Greater Capital Association of Realtors.

Closed sales increased across the region 3 percent from August 2012 to August 2013, while pending sales rose 1 percent and the median sale price of a home rose 2 percent.

"Motivated by interest rates which have begun to move upwards and low inventory of available homes, buyers in the region have continued to be active," said GCAR President Miguel Berger in a news release issued today. "Although interest rates have increased to the low to mid 4 percent range, we see nothing to indicate they will escalate much beyond where they sit right now. But don’t pass up an opportunity in a market which has reached a balance where neither buyers nor sellers have a perceptible advantage in the negotiation process."

Buyer activity was varied depending on the county, though. Sales in Saratoga and Albany counties rose last month, while sales dipped in Schenectady, Montgomery and Schoharie counties.

To see a county-by-county breakdown, pick up tomorrow's Daily Gazette or visit www.dailygazette.com.

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