New York’s housing market is set to expand for the second time in three months, with new listings climbing by more than 10 percent, according to a report from Trulia.
New listings rose 2.4 percent in the third quarter from a year ago, to reach 1.95 million units.
The market is poised to expand in 2018 and 2019, the report said.
The housing market has been one of the hottest markets in the country.
The average price of a single-family home in Manhattan rose 4.6 percent in 2017, while prices in the boroughs of Brooklyn and Queens climbed 7.1 percent.
Prices are also surging in Queens and Brooklyn, according.
The report found that in 2018, a typical new home sale in Manhattan sold for $1.4 million, up from $1 million in 2017.
The median price for a new home in the city is now $1,000,000.
The number of new listings in New Jersey jumped 6.6% from a full year earlier, to 8,073 units, according the Trulia report.
The state is also poised to surpass its previous record for the most new listings, which was 6,539 units set in the second quarter of 2016.
New Jersey’s population is growing faster than the national average, but it still lags behind its neighbors in other major metropolitan areas.
The New York metro area has more than 13 million residents, while San Francisco has nearly 17 million.
The national median home price is now more than $1-million higher than in New Hampshire.
The average price in New Orleans is $1 billion, compared to $826,000 in 2017 and $972,000 last year.
In California, the number of homes sold has climbed more than 40 percent since 2016, according an Associated Press analysis of data from Trusted Realtors.
California is still the most expensive state to buy property, at nearly $7,000 per square foot, according To the Top.
That’s despite the state’s growing population, which is expected to reach 18 million by 2026.
The price of homes in the state has risen 27 percent in just five years.
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