LI home prices tick up with fewer houses on market

Home prices on Long Island are on the rise as there are fewer homes on the market with more people looking to buy.



Experts say Long Island is currently in a "sellers' market," which could make it harder for buyers to find affordable housing. Sellers' markets typically lead to bidding wars and higher home prices.



"We've been to open houses, we've put bids on houses and then within three days, there's six, seven other bids," said house-hunter Phil Cavallo, of Long Beach. 



Some realtors told News 12 that this isn't a major cause for concern because the market tends to fluctuate. They also say there is a lot of activity on the market, which could be a positive sign.


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