White Plains NY Bar BuildingThe housing market in White Plains has taken a drubbing since the stock market crash of 2008. Although some adjacent areas are showing small signs of stabilization, the same can not be said for the city of White Plains.
Scarsdale NY housing has been in the cross hairs of the housing recession for a while now. Initially, it was resistant to the correction taking place in other parts of the country. Eventually the forces that had hit other parts of the country so dramatically, came home to roost even in the most resilient areas of Westchester. However, some of the numbers show signs of a bottom being at hand.
The Hartsdale NY housing market is in buyer's market mode. Prices for coops, condos and single family homes all experienced price reductions when compared with the third quarter of the previous year. This was the second year of price reductions for the area. Volume was variable with single-family home sales being down 70% over the previous year while there was a slight increase in the number of coop sales.
Following the stock market crash of 2008, home prices in White Plains finally took a hit. This market had remained remarkably sturdy up to the fourth White Plains NY Foliagequarter of 2008. The correction has been an abrupt one. The third quarter market reports reflect a market that is experiencing a major correction.