Feeling in a New York state of mind? Now may be a good time to buy, as New York has seen a recent decrease in new mortgage loans. The Empire State has 8.3 million housing units and a homeownership rate of 53.8%, according to the U.S. Census Bureau’s 2017 American Community Survey.
The median housing value in the state is $314,500, compared with a $217,600 national median value. But many counties have medians lower than that, so expectations can vary based on where you’re planning to buy.