Long Island home sales up nearly 10 percent in April as inventory swells

In Nassau and Suffolk counties, pending home sales increased 9.6 percent in April when compared to the same time in 2018, according to Long Island Business News, which cited data from the Multiple Listing Service of Long Island. Suffolk had 1,868 pending home sales in April, up 12.9 percent from the 1,655 that traded in April 2018. Similarly, Nassau’s 1,336 home sales last month was a 5.3 percent spike from the 1,269 homes contracted for sale in April last year. But despite the numbers of sales growing, inventory is also increasing. Nassau and Suffolk counties had 12,572 homes listed for sale as of Wednesday. That number is 10 percent more than the 11,427 listed on the market during the same time period in 2018. LIBN noted that Nassau saw its inventory rise faster, at a 16.7 percent bounce from 2018, than Suffolk, where inventory hopped up by only 4.8 percent year-over-year. [LIBN]