Is the housing market slowing down in New York, NY?
Yes — sales activity in New York, NY is down. 3,957 homes sold during May 2026, against 4,800 in the same months a year earlier, a drop of 18%.
This page is about how many homes changed hands, not what they cost. The two move separately: prices are set by the homes that did sell, and volume tells you how many people managed to transact at all. A market can hold its prices while activity quietly drains out of it.
The change clears both tests we require before naming a direction: it is more than 3% in relative terms, and it is larger than the ordinary month-to-month variation you would expect on a market that sells 3,957 homes at a time.
The longer view, all measured over the May window so the season is held constant: 5,024 homes sold two years ago, 4,800 last year, 3,957 now. Activity is meaningfully below where it was two years ago.
What is on the shelf next to what is selling: 23,512 homes were on the market in New York, NY, and 3,957 sold. At that pace it would take about 5.9 months to clear them all. There are more homes for sale than buyers. Buyers have the edge.
Every comparison on this page is to the SAME calendar months a year earlier, never to last month. Home sales roughly double between January and May in most of the country, so a month-over-month reading would tell you about the season and nothing about the market.
Source: Redfin's published market data for the New York, NY area, through May 2026.
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More about the New York, NY market
- When is the best month to sell a house in New York, NY?
- How long does it take to sell a house in New York, NY?
- Do homes sell above asking price in New York, NY?
- Are home prices going up or down in New York, NY?
- Is New York, NY a buyer's market or a seller's market?
- Are sellers cutting prices in New York, NY?
- What is the average home price in New York, NY?
- How many homes are for sale in New York, NY?
- All New York, NY housing numbers
Other markets
- Is the housing market slowing down in Nassau County, NY?
- Is the housing market slowing down in Rochester, NY?
- Is the housing market slowing down in Buffalo, NY?
- Is the housing market slowing down in Albany, NY?
- Is the housing market slowing down in Poughkeepsie, NY?
- Is the housing market slowing down in Syracuse, NY?
- Is the housing market slowing down in Binghamton, NY?
- Is the housing market slowing down in Utica, NY?
Figures come from Redfin's published market data for the New York, NY area, through May 2026. Neighborhood Numbers is an independent data publisher and is not affiliated with Redfin. We update these pages when Redfin publishes, once a month.