Slow December sales cap transition year for LI housing market
The Long Island housing market slogged through another disappointing month in December, capping off a year of transition for the residential real estate industry.
As had been the case for most of 2022, home sales slowed down, and home prices continued to retreat again last month.
There were 1,583 Long Island homes contracted for sale in December, down 14 percent from the 1,846 pending sales of the previous month and a drop of 34.4 percent from the 2,414 homes that were contracted for sale in Dec. 2021, according to preliminary numbers from OneKey MLS.
The number of Long Island home
