The New York, NY market saw a drop in new home closings year-over-year in November, a downhill move after a bump in October 2013. New home closings saw a 13.0% decline from a year earlier to 547. This was after the housing market saw a 39.6% hike year-over-year in October.
A total of 7,604 new homes were sold during the 12 months that ended in November, down from 7,686 for the year that ended in October.
As a percentage of overall housing closings, new home closings accounted for 5.2%. This is a decline 7.4% of closings a year earlier. For new and existing homes, closings increased year-over-year in November after also increasing in October year-over-year.