Home prices in the New York Westchester County New Rochelle and Pelham area have been stable over the last year whereas the number of sale transactions has increased sharply. Based on MLS data, the peak in the number of sales during the bubble episode of the previous cycle was reached in 2005 whereas prices continued to climb and remained near their peak well into 2008.
Home sales is the number to watch. Historically, prices follow with a certain time lag.
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