RE/MAX still optimistic about New York State residential market

Real Estate Weekly, Oct 31, 2001

Following two record sales years, RE/MAX of New York, Inc. remains optimistic about the New. York State real estate market.

While reports continue to show that consumers remain somewhat wary of making large purchases, recent interest rate cuts have placed thirty-year rates at their lowest levels since the early 1960's paving the way for a continued stability in the residential real estate sector . In addition, prices for low to medium priced single-family homes in active parts of the state remain steady.

Internal RE/MAX sales transaction. numbers for September 2001 show sales figures as being. approximately equal to the period during the year 2000. In terms of dollar volume, the numbers indicate a more than 23% increase over figures from the same period last year.

"From our analysis and from anecdotal reports we are hearing from our agents throughout New York State we continue to be very optimistic about the real estate market. Most regions of the state including Long Island, Westchester and New York City continue to have dollar and transaction volume numbers that are close to or greater than levels for the same period last year. We have also seen growth in the number of agents coming to the RE/MAX System and new franchises as well," said Henry Weber, President of RE/MAX of New York, Inc.

Certain regions of the state continue to show strong growth. These include New York City with 17.5% increases in the number of transactions and 32.7% increase in dollar volume. Other regions of the state, such as Albany, have also experienced strong markets for RE/MAX.