New York's population is 20.3M, with a total workforce of 9.7M. The labor market grew by 105,200 jobs over the past year, up by 1.1%. The median household income in New York is $74,379, 3.5% higher than last year and 21.2% above the national average of $61,372. In the housing market, total permits issued totaled 47,805 over the last twelve months, up 0.9% year-over-year.
New York has 409 active new home projects on the market, 1.7% fewer than the 416 from last year. The average list price in the market is $582,539, 6.0% higher than last year and 81.9% above the national average. Over the last three months, new home contracts decreased by 11.3% to 1,650. New York and Brooklyn had the highest concentration of the new home contracts in the New York market.