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Albany area real estate market still frozen

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After a very long and snowy winter in the Albany area spring has finally arrived, but the Albany area spring real estate market hasn’t. In the Albany area and throughout New York State the real estate market still appears to be frozen.
As in most typical years, last fall the Albany area real estate market had been steady. For the winter, as usual in New York, the real estate market slowed. Usually when spring arrives the real estate market picks up steam again. This year, according to several title insurance companies and real estate attorneys in and around the Albany area, the real estate market is still slow, really slow. Several people cited the heavy snowfall the area received over the winter delayed or made it impossible for house inspectors and surveyors to do their jobs, slowing down the real estate closing process. The extreme cold temperatures and slippery roads also caused issues with real estate closings being delayed, postponed, or cancelled.
Recent years the real estate market had maintained a relatively steadier pace all year, including in the winter. This was due to the unusually mild weather, including winters, the Albany area was having. As Albany area real estate professionals bask in the warmth of the spring sunshine, they are hoping the good weather will finally unthaw the frozen real estate market



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