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The Rockland housing market surged again in the first quarter of 2019, with both sales and prices of single-family homes up for the quarter. The 8% increase in sales from the first quarter of last year was the largest increase in any county in the region, demonstrating how strong buyer demand in the county has remained. And Rockland continued to see meaningful price appreciation, with average prices up over 2% for the quarter and 4% for the year. Unlike the higher-priced markets in the region, Rockland seemed unaffected by the 2018 Tax Reform cap on state and local tax deductions, perhaps because home buyers in the Rockland price range are less likely to itemize their taxes. Indeed, prices were up even higher in the lower-priced condo market, rising 11% for the quarter and up almost 4% for the year. Going forward, Rockland home sellers have reason to be optimistic for the spring market, with prices at attractive levels, inventory below six months, and interest rates still near historic lows.
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