Nassau and Suffolk pending home sales rose 5 percent year-over-year in February

Pending home sales in Nassau and Suffolk counties climbed by 5 percent in February over the same period in 2018, according to Long Island Business News. In both counties, pending sales jumped from 2,177 in February 2018 to 2,285 last month. In Nassau alone, there were 958 homes contracted for sale last month, a 1 percent uptick from the 949 a year prior. In Suffolk county, 1,327 homes went into contract this past February, an 8 percent increase from the 1,228 in February 2018. During the first two months of this year, a turbulent time for the U.S. housing market, pending home sales are up nearly 8 percent across Long Island when compared to the same period last year. Inventory has also risen to 10,953 homes listed for sale in both counties, roughly 6.6 percent higher than the 10,273 homes that were listed in February 2018, according to the Multiple Listing Service of Long Island. [LIBN]