New homes are hot. According to Bloomberg News, new-home construction in the United States climbed in July
to the highest level in almost eight years.
Multiple Listing Service of Long Island (MLSLI) shows only five homes priced between $499,00-$529,000 between Huntington and Northport. Four of those homes are going up on Rogers Avenue in Huntington. One model had been constructed and showing an open house today, Sunday 8/30 from 1-3pm. Rogers Avenue Huntington, NY 11743
But affordable homes like these are rare. MLSLI says $600,000 and up are where the majority of newly built houses are found in this particular area of Long Island.
According to data from Freddie Mac in McLean, Va., prospective home-buyers continue to face relatively low
borrowing costs. The average 30-year, fixed-rate mortgage was 3.94 percent in
the week ended Aug. 13, below last year's high of 4.53 percent reached in early
January 2014.
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