The number of sales for residential and commercial real estate across the United States increased by 10% in the first nine months of 2018, as new sales soared by more than $1.4 trillion, according to the Federal Reserve Bank of New York.
New York was home to the largest increase in new sales from January through June, as sales in the Big Apple surged by 4.2% to $2.5 trillion, up from $2 trillion in the same period in 2017.
The state also saw the largest gain in new listings, with new sales rising 3.5% to nearly $1 trillion, compared with $1,858 billion in the previous nine months.
Sales were also up across the nation, with the top 10 markets recording increases in sales of 7.5%, according to a report from CoreLogic.
As a whole, sales rose by $1 billion in California, $824 million in New York, and $1 million in Florida.
With more than 3.2 million new listings being added each day in New Jersey, sales were up by 3.4% over the previous year.
Other states saw increases, including Texas, where sales increased by 2.6% over 2017.
Sales were up in Washington, D.C., which jumped 6.2%.
New York also led the nation with the biggest increase in newly sold homes.
Sales increased by 4%, while the number of homes that sold in New Yorker neighborhoods increased by 14%.
The city also led in new homes for older homes.
The state has the nation’s second-highest percentage of homes sold by new construction, according a report by the New York Department of Financial Services.
But new home sales in New Yorkers’ neighborhoods are also on the decline.
In the city’s boroughs, just 1.9% of homes were sold in a year, down from 3.1% in 2018.
The boroughs of Queens, Brooklyn, Staten Island, and the Bronx all saw declines of 7% to 8%.
Other markets saw declines, including Chicago, which saw sales decline by 5% to 6.5%.
The region’s housing market has been a top priority for Gov.
Andrew Cuomo since taking office in January.
But the state is expected to release its first annual report on housing conditions on Wednesday.
According to the report, New York State is home to some of the nations highest foreclosure rates, with some 6.6 million homes being foreclosed on.