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Elliman Report: Long Island Sales 3Q 2013

…The Long Island housing market set a number of records in the quarter and continued to be characterized by declining supply, and a faster pace coupled with modest housing price gains. The spike in mortgage rates caused a surge in sales activity as on-the-fence buyers looked to purchase before rates rose further. There were 6,977 sales in the third quarter, 23.7% above the prior year quarter and the highest total reached in 7 years…

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