New York State home sales continued to slow in November, falling by more than 8 percent from October and by nearly 32 percent from the November 2009 sales pace, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price continued to rebound from a year ago.

New York REALTORS sold 5,260 existing single-family homes in New York State during November 2010, an 8.3-percent decrease compared to the October 2010 sales total of 5,735. The November 2010 sales total was 31.7-percent below the November 2009 total of 7,705.

The November 2010 median sales price in New York State of $225,000 represents an increase of 4.7 percent compared to the October 2010 median of $215,000, and an increase of 12.5 percent from the November 2009 median of $200,000.

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On January 1, 2011, the new agency disclosure form will be required for all residential real property transactions including condominiums and cooperative apartments/units. Furthermore, the new agency disclosure form permits consumers to consent to dual agency and dual agency with designated sales agents in advance. Copies of the new forms can be found here.

Click here for an article outlining the changes.  

The New York State Association of REALTORS will hold its Mid-Winter Business Meetings January 31-February 3 at The Desmond Hotel and Conference Center in Albany, NY. In addition to the full schedule of committee meetings, the 2011 leadership team and regional vice presidents will take the oath of office during the inaugural dinner on Monday, January 31.

Also, don't miss the Association Update on Tuesday in its new afternoon timeslot, 1:30-3 p.m.

For information on the NYSAR Mid-Winter Business Meetings, including registration information, click here. For additional information on the meeting's venue, The Desmond Hotel and Conference Center, click here.

In its U.S. Foreclosure Market Report for December 2010, which reports default notices, scheduled auctions and bank repossessions in the month of November, RealtyTrac Inc. reported New York State had 2,779 total foreclosures, a decrease of 27.37 percent from October 2010 and a decrease of 36.56 percent from November 2009.

New York State ranked number 46 of all 50 states for monthly total foreclosure filings with one in every 2,871 properties receiving a foreclosure filing.

Foreclosure filings were reported nationally on 262,339 U.S. properties in November, a decrease of 21.02 percent from October 2010 and a decrease of 14.44 percent from year-ago totals. Nationally, one in every 492 properties received a foreclosure filing.

To read the entire RealtyTrac press release, click here.

The 2010 Profile of Home Buyers and Sellers - New York Report is now available in the Research Section of NYSAR.com. This report describes the characteristics and motivations of recent home buyers and sellers in New York and in doing so helps real estate professionals track the changing demands of consumers in a dynamic market.

Click here to access the report.