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Long Island Housing Market Enjoys First-Quarter Surge

Home sales are on the rise on Long Island so far this year, according to a Long Island Business News report.

The Long Island housing market is on an upswing for the first quarter of 2019 over last year's first quarter, Long Island Business News reported.

The Long Island housing market is on an upswing for the first quarter of 2019 over last year's first quarter, Long Island Business News reported.

Photo Credit: Image by Paul Brennan from Pixabay

Houses pending sales in Nassau and Suffolk Counties are up by 6.5 percent in 2019's first quarter from what they were in the first quarter of 2018, said the article.

The report said 7,131 homes were in sales contracts in both counties in 2019's first quarter, while 6,695 homes were in contracts to sell in 2018's first quarter.

Long Island's housing performance is better than the national housing market, the report said.

Lower interest on mortgages, more stable stock market and fairly nice weather are reasons brokers attribute the increase, said the article.

Mortgage interest rates steadily fell during 2019's first quarter, lowering to 4.06 percent in March, said the article.

Click here for the article in Long Island Business News.

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