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 2011 to 2012, Cayuga and Seneca experienced small declines of 2% and 1% respectively. This compares with an increase of 7 % in the state (excluding NYC). All comparison counties saw increases in 2012, ranging from 2% to 20%. In Cayuga, home sales had been increasing through 2005, then began to decline each year with the exception of a 4% increase in 2009. In Seneca, home sales fluctuated a bit more, declining in 7 of the 10 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