Realtors: York County housing market remains hot through spring
York County's housing sales for April have launched to the highest totals since the start of the year — though Realtors said that those interested in the market should take that with a grain of salt.
April's housing sales increased by 33% relative to the same time last year — which is when Pennsylvania was in the midst of a shutdown that prevented Realtors from in-person selling for nine weeks, said Tina Llorente, president of the Realtors Association of York and Adams Counties.
"The big jumps are reflective of the shutdown," Llorente said, adding that because Realtors were limited to selling houses virtually, last year's sales were "substantially" reduced.
Through the end of April, 1,960 houses have been sold this year, a 14% increase over the same period last year, during which 1,712 homes were sold, according to statistics provided by RAYAC.
Many of the factors encouraging buyers to enter the market quickly — including a lack of inventory and low interest rates — continue to dominate the housing market in York County, Llorente said.
Additionally, the easing of lender restrictions has prompted new homeowners to take the leap. For example, the availability of fixed rate mortgages as opposed to flexible rate mortgages — in which the interest rate can change abruptly — has contributed to more activity in the housing market.
"There's no issues with lending right now," Llorente said, adding that interest rates are hovering at 3%.
Several school districts, including Hanover and York City, saw significant increases in the number of houses sold in April.
In April, 22 houses were sold in the Hanover School District, a 175% increase compared with the previous April, when eight houses were sold.
York City saw a 107% increase in home sales relative to the same time last year.
Dallastown and West Shore school districts experienced a decline in home sales, reporting decreases of 15% and 16% respectively.
Housing sales are broken down by school district in RAYAC's report.
"The pandemic has shown us that the American dream is to still buy a home," Llorente said.
— Reach Tina Locurto at firstname.lastname@example.org or on Twitter at @tina_locurto.