What are mortgage rates doing in New York?

I don't have information on mortgage rates. However, I can tell you about the New York-Newark-Jersey City housing market right now. Prices are seeing a small dip, and homes are generally selling a bit quicker than they were a year ago. Potential buyers have more options to choose from. Looking at the latest data, the median listing price in the New York area is $742,000. This is down slightly by 0.9% from the previous month and 2.3% lower compared to this time last year. There are more homes for sale now, with active listings up by 6.3% over the past year, totaling 38,158 properties. However, fewer brand new listings are coming onto the market, down 4.6% year-over-year to 15,952. Homes are spending less time on the market, with the median days on market at 56, which is 3.5% faster than a year ago. A slightly larger share of homes, 10.3%, have had their prices reduced compared to last year. For anyone looking to buy or sell, these trends suggest that while there are more homes available, buyers might find a bit of relief on prices compared to last year, and homes are still moving relatively quickly.