Why The Lag In New Home Sales In Westchester?

August 26, 2010 8:32 AM

A man works on a house under construction in the United States – Mar 11, 2009 – Photo: PAUL J. RICHARDS/AFP/Getty Images

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WHITE PLAINS, NY (WCBS 880) - New construction is not really something you see in Westchester County.

LISTEN: WCBS 880′s Catherine Cioffi reports

That’s why Michael Graessle, vice president of the Westchester Putnam Association of Realtors, says he’s not surprised that new home sales have fallen.

“There has been very few new homes built in Westchester. So, new home sales are going to be a very small part of the overall inventory,” Graessle tells WCBS 880 reporter Catherine Cioffi.

While existing home sales are also down here in Westchester County, 29.3 percent, Graessle thinks that’s all going to change in the fall, saying, “Things that we’re seeing here in our office would suggest that.”

Westchester County also has the highest property taxes of any county in the country.

Why The Lag In New Home Sales In Westchester?

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