Kingston leads nation in rising real estate prices
Aug 17, 2020 5:43 am
Prashant Gopal reports for Bloomberg that the city that leads the United States now in rising real estate prices is Kingston, New York. A typical home in Kingston sold for $276,000 in the second quarter this year, up 18 percent from 2019 according to a report released last week from the National Association of Realtors. “Every single deal I have is someone from Brooklyn or Manhattan,” said Amy Crossfield, a Kingston agent and former Brooklynite. “You have bidding wars, cash offers and people rushing to put in an offer the day something comes on the market.” The report from the realtors association says that U.S. home prices rose 4.2 percent in the second quarter, down from the 7.7 percent last year. Locally, there are many reports of new buyers from New York City, and this week's Village of Catskill meeting was filled with locals asking for help with affordable housing as prices for rentals and purchases skyrocket. Read more about this story at the Bloomberg website.