Newly signed contracts in the New York City area and Southern California dropped in June as high mortgage rates and low inventory dampened the housing market across the United States, according to data released by Douglas Elliman Real Estate and Miller Samuel.

In most areas, contract signings and listings fell on a year-over-year basis, according to Jonathan Mꦯiller, president of Miller Samuel. 

“The pace of the market is a little bit faster because supply is shrinking faster than contracts are being signed,” Miller said. "So we can make the argument that it's not just mortgage rates being higher, it's also supply being unusually limited. And this is a national phenomenon for the most pa꧑rt.”&⭕nbsp;

Contracts, Inventory Down in New York

In Manhattan’s 澳洲幸运5开奖号码历史查询:co-op market, newly signed contracts dropped to 323 from 466 in June. Contracts fell 17.4% from one year ago. New listings also fell by 27.8% year-over-year, ending July at 428. Listings fell on a month-over-month basis, dropping from 605 the month beforeღ. 

In the condo market, 227 contracts were signed, down from 345 the month before. Year-over-year condo contract signingsౠ fell 32.6%. New listings dropped to 417 from 594 the month before and were down 25.8% on a year-over-year basis. 

In the Brooklyn co-op market, newly signed contracts fell to 93 from 115 the month before. New signed co-op contracts were down 25% on a year-over-year basis. New listingsജ fell 50ও.7% from July of last year. 

In the Brooklyn 澳洲幸运5开奖号码历史查询:condo market, there were 121 new contracts signed, down from 182 in June. On a yearly basis, new contract signings fell 29.7%. New listings fell 34.1% on a yearly basis, ending July at 170, down from♎ 216 in 𒊎June. 

In Long Island, excluding Hamptons and North Fork, new 澳洲幸运5开奖号码历史查询:single-family contracts fell to 1,416 from 1,786 in June. On a yearly ba🌸sis, contract signings fell 22.2%. Listings also fell 29.7% on a yearly basis. 

In the Hamptons single-ꦉfamily market, contract signings fell to 57 from 5🦋4 the month prior. Signings fell year-over-year by 8.1%. New listings also saw a modest drop on a yearly basis, falling 0.8%. 

California Signings, Listings Drop

In the Los Angeles County single-family market, newly signed contracts dropped to 2,094 from 2,392 in June. On a yearly basis, signings fell 20.7%. Single-family listings fell slightly to 1,976 from 2,096 the month before. On a yearly basis, listings fell 38.7%. 

In the Los Angeles County condo market, sign🦂ings fell to 759 from 828 the month before. On a yearly🅘 basis, they fell 16.2%. New listings fell 31.7% on a yearly basis. 

In the Orange 🦂County single-family market, 864 new contracts were signed, down from 874 in June. On a yearly basis, signings fell 14.3%. Listings ended ⛄the month at 562, down from 637 the month before. On a year-over-year basis, listings in Orange County fell 46.5%. 

In the San Diego County single-family market, 1,059 contracts were signed, down from 1,120 in June. On a year-ov🎀er-year basis, contract signings fell 16.6%. There were 712 neꦉw listings, down from 799. On a yearly basis, contract signings fell 52%.