Chenango County real estate shows more homes are available for sale with an increase of 17 percent over last year, yet closed sales are down 19 percent, offering buyers more choices and confidence to negotiate pricing. (Photo by Kelli Miller)

CHENANGO COUNTY - With interest rates remaining steady and at a high since 1997, real estate sales are decreasing in most areas in the nation, yet in the northeast, sales rose 2.1 percent over a month-to-month scope, according to the National Association of Realtors (NAR) Pending Home Sales report.

The NAR Confidence Index shows an increase to potential signings moving forward and holds an optimistic view for home buying in the future as mortgage applications have been on the rise.

Owner and Associate Broker Gretchen Walsh, of The Parker Walsh Team of Keller Williams Upstate New York Properties, broke down the national trends versus Chenango County trends, disclosing every market is different.

“The NAR gives us a bird’s eye view of what’s happening across the country,” said Walsh. “But national trends can be misleading if you’re trying to make a decision right here in Chenango County.”

“For example, NAR reports that the national median home price is up 1.5 percent but that’s like saying the average temperature in the U.S. today is 75 degrees,” she said. “It doesn’t mean much if you’re in Alaska or Arizona. The same goes for housing, every market is different.”

Walsh said one of the metrics they watch closely is months of inventory, which tells how long it could take to sell all available homes if no new ones came on the market.