Monday, August 08, 2005

Running Out of Gas on Long Island

Is the housing bubble on Long Island starting to leak. From this past weekend's real estate section of the New York Times:

"The number of homes for sale on Long Island and in Queens in June was 22 percent higher this year compared with the same time last year, signaling, some say, that prices have been raised too high for many buyers.
. . .
With more people putting homes on the market at ever higher prices, the supply is starting to outpace demand.

Real estate brokers have encountered both edgy sellers and savvier buyers, saying that news reports on the real estate market have added to the uncertainty and anxiety on both sides."

Link:

Number of Unsold Houses Grows

10 Comments:

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