This is driven by a supply shock, not a demand bubble. Long Island has strong demand and a long standing housing shortage. Many homeowners are locked into sub 3 percent mortgage rates and are choosing not to sell, keeping inventory about 60 percent below pre pandemic levels. Until inventory reaches 5 to 6 months of supply, prices are expected to continue rising slowly, around 1 to 3 percent annually through 2026.
Why are home prices still rising on Long Island despite high interest rates?
Mohammed “Muds” Mudassir
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My vision is to bring clarity to the next five hundred million people by treating every client as a VIP. If you ever need clear guidance on buying or selling a home on Long Island, I am here. I keep things simple so you can make decisions with confidence. You can always find me online. My handle is HelloMuds on Instagram, TikTok, Google and YouTube. And if you ever want to reach me directly, visit HelloMuds.com, or you can call me directly at 631 528 5786. I appreciate you spending a few minutes with my work. If this helped you in any way, feel free to share it with someone who might benefit too.
My vision is to bring clarity to the next five hundred million people by treating every client as a VIP. If you ever need clear guidance on buying or selling a home on Long Island, I am here. I keep things simple so you can make decisions with confidence. You can always find me online. My handle is HelloMuds on
Instagram,
TikTok,
Google
and
YouTube.
And if you ever want to reach me directly, visit
HelloMuds.com,
or you can call me directly at
631 528 5786.
I appreciate you spending a few minutes with my work. If this helped you in any way, feel free to share it with someone who might benefit too.