NYS Home Sales Rise For 3rd Straight Month

Source: New York State Association of Realtors (NYSAR)

Statewide sales of existing single-family homes in New York State increased nearly 5 percent in May from April and nearly 13 percent compared to May 2009, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price also rose by more than 8 percent compared to May 2009.

“New York State’s housing market continues to show growth as we enter the typically active summer season,” said Duncan R. MacKenzie, NYSAR chief executive officer, noting that sales have increased from year-ago totals for five consecutive months, and from prior-month sales for the past three months. “The federal homebuyer tax credit continues to drive the monthly sales total as buyers close on homes placed under contract before the April deadline.

“We expect the June sales figure to be strong also as buyers taking advantage of the homebuyer tax credit must close before the final deadline of June 30,” MacKenzie said. He added that buyers who have missed the tax credit can still take advantage of historically low mortgage rates and a good selection of available inventory.

New York REALTORS sold 6,545 existing single-family homes in New York State during May 2010, a 12.8 percent increase compared to the May 2009 sales total of 5,801. May sales also increased from April 2010 when 6,285 homes were sold.

The May 2010 median sales price in New York State of $194,900 represents an increase of 8.3 percent compared to the May 2009 median of $180,000, and increased by 1 percent from the April 2010 median of $193,000.

Complete data is available at http://www.nysar.com/content/Press.htm

Job Openings Rise to Highest Level in 16 Months

Private employers account for the entire gain as census bump is ending
Source: Associated Press

Job openings jumped in April to the highest level in 16 months, a sign that private employers may boost hiring in coming months.
The number of jobs advertised at the end of April rose to 3.1 million from 2.8 million in March, the Labor Department said Tuesday. That's the most openings since December 2008.
Private employers accounted for the entire net gain. The government's advertising for jobs decreased, despite the hiring of hundreds of thousands of census workers in May.

The department's report, known as the Job Openings and Labor Turnover survey, or JOLTS, follows a disappointing employment report Friday that found private employers added only 41,000 jobs in May. Temporary census hiring accounted for 411,000 jobs. The unemployment rate fell to 9.7 percent from 9.9 percent in April

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Gas Prices Appear to be Leveling Off

Down 20 Cents in Past Month to Average $2.72 a Gallon Nationwide
Source: Associated Press

After dropping 20 cents in the past month, gasoline pump prices are leveling off.
Retail gasoline prices fell 0.3 cent Monday to a national average of $2.724 per gallon, according to AAA, Wright Express and Oil Price Information Service.
Lower gasoline prices reflect a steep drop in oil prices over the past month. Gas prices topped off at $2.93 per gallon on May 6, three days after oil prices reached an 18-month high of $87.15 per barrel.

Prices may drop a few more pennies at the pump, but the big drops are over unless worries that the country is falling back into recession gain steam, said OPIS' Tom Kloza. Still, by the time summer officially arrives later this month, gas likely will be below where it was a year ago. Right now gasoline prices are 11.3 cents higher than last year.

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