Single-Family Home Sales
What does this measure?
The number of existing single–family homes sold in a year.
Why is this important?
Home sales are an important part of the economy, a measure of consumer spending and confidence, as well as a general indicator of the overall health of the community .
How are Cayuga and Seneca counties performing?
From 2009 to 2010, the number of single–family homes sold in both counties declined 12%, a larger drop than the 5% decline in the state (excluding NYC). Comparison counties had similar declines, ranging from 8% to 14%. In Cayuga, home sales had been increasing through 2005, then began to decline each year though the county had a 4% increase in 2009. In Seneca, home sales fluctuated a bit more, declining in 3 of the 8 years for which data were available. The declines mirror a slowing of the state real estate market, which took the biggest hit in 2008 when sales fell 14%.
Notes about the data