…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…