MARCH 2019 • LONGISLANDPRESS.COM 61
April marks the start of moving season on Long Island. (Getty Images)
BY TAMMY SCILEPPI
Call it the tale of two Long Islands.
Residential inventory is rising and home prices are continuing to trend upward
in Nassau and Suffolk counties. The data suggests the local residential real
estate market is getting more favorable to buyers as moving season arrives in
April, but a closer look reveals a murkier truth. Competition remains fierce for
starter homes, while those who can afford to buy one of the region’s generous
selection of luxury homes are slower than usual to sign on the dotted line.
“The market is changing,” says Arleen Goscinski, ASA, an East Northport-based
appraiser and former broker who noted that last year was a strong sellers'
market with a low inventory that caused prices to rise and generated frequent
multiple offers. “Interest rates are rising, financial markets are volatile, and
wages are not keeping up with inflation.”
WHAT’S INSIDE continued on page 62
64 OPEN HOUSE 66 INSIDE JOB
PRESS HOME
MOVING SEASON OUTLOOK
CLOUDY FORECAST FOR 2019 LI HOME SALES
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