Newsday: LI home prices see largest increase since 2006

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WOODBURY -

Long Island home prices rose by the largest yearly increase since 2006, according to Newsday.

The median price of a home, excluding the East End, is $415,000 according to Douglas Elliman.

That's up 6.6 percent from the previous year. 

Part of the reason for the increase is scarce inventory. The number of homes listed for sale dropped nearly 7 percent.

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