Residential

Northeast Home Sales Soared by a Record 31% in July

August 21, 2020

WASHINGTON—Proof that the local home sales market is very strong despite the COVID pandemic can be found in the latest statistics released today by the National Association of Realtors. NAR reports that existing-home sales in the Northeast rose by a record 30.6% in the month of July. NAR reported that nationwide home sales continued on…

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New York Taking Early Steps Toward COVID Jobs Recovery

August 20, 2020

ALBANY—While noting that July labor statistics are expected to be released soon, New York State Comptroller Thomas DiNapoli issued a report today that chronicled both the devastating impacts to the state’s labor force in the early days of the coronavirus pandemic and the recent inroads that have been made toward recovery since the state’s economy…

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Rockland County Executive Proposes Sain Building Sale As County is ‘Being Battered from all Sides' by COVID

August 19, 2020

NEW CITY—Saying the county is “being battered from all sides” from the coronavirus and faces significant revenue shortfalls ahead, Rockland County Executive Ed Day submitted three draft Resolutions to the County Legislature on Aug. 18 that include reviving a plan to sell a shuttered county-owned office building and raising the county’s sales tax. Day says…

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Local Government Sales Tax Collections Fell 8.2% in July

August 13, 2020

ALBANY—As the New York State economy continues its reopening process and the state continues to post low COVID infection numbers, local sales tax collections are improving, although still down compared to last year. Sales tax revenue for local governments in July fell 8.2% compared to the same period last year, according to New York State…

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NAR Reports U.S. Metro Home Prices Grow in 96% of Metro Areas in Second Quarter

August 12, 2020

WASHINGTON— In the era of COVID-19, the value of homes seems to have some immunity to the virus. The overwhelming majority of the nation’s metro areas enjoyed home price increases in the second quarter of 2020, according to the latest quarterly report by the National Association of Realtors released today. Median single-family home prices rose…

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HGAR Annual Meeting to be Held Virtually for First Time in History

August 12, 2020

WHITE PLAINS—The Hudson Gateway Association of Realtors’ 104th Annual Meeting & Member Appreciation Day will be like none other in the association’s history. The October gathering, which normally draws more than 1,200 Realtors and related professionals to the DoubleTree Hotel in Tarrytown, will be held virtually this year, via Zoom webinar, for safety concerns as…

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Realtor Survey Finds Annual Foreign Investment in U.S. Home Sales Declines 5%

August 11, 2020

WASHINGTON—Foreign buyers purchased $74 billion worth of U.S. existing homes from April 2019 through March 2020, a 5% decrease from the previous 12-month period and the second consecutive annual decline in foreign investment in U.S. residential real estate, according to a new survey from the National Association of Realtors. Foreign buyers purchased 154,000 properties, down…

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Nearly $53M Redevelopment, Refinancing Of Fort Schuyler House in Bronx Complete

August 4, 2020

NEW YORK—Fort Schuyler House, Inc., MDG Design + Construction, LLC, Smith & Henzy Advisory Group, Inc., Concord Management of New York, and partners recently celebrated the completion of the $52.7-million revitalization and refinancing of Fort Schuyler House, an affordable senior housing development in the Bronx. The project preserves the affordability of Fort Schuyler House’s 138…

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WRO Seeking Donations for Upcoming Online Fundraiser

July 27, 2020

WHITE PLAINS—Donations are now being accepted for a planned online (Facebook) auction to benefit Westchester Residential Opportunities, Inc., a White Plains-based non-profit organization whose mission is to promote equal, affordable and accessible housing opportunities for all residents of our region. Please help WRO prevent mortgage defaults and evictions during this difficult time. Anyone wishing to…

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NAR Looks to Drum Up Support for Rep. Maloney’s ‘First Time Homebuyer Pandemic Savings Act’

July 22, 2020

WASHINGTON—U.S. Rep. Sean Patrick Maloney (NY-18) introduced the “First Time Homebuyer Pandemic Savings Act” on Wednesday (July 22), a new bill that will help first-time homebuyers realize their dreams of homeownership, during and after America’s recovery from the coronavirus public health and economic crisis. Shortly after its introduction, the National Association of Realtors issued a…

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NAR: Existing-Home Sales Climb Record 20.7% in June

July 22, 2020

WASHINGTON—As states across the nation continued to reopen their economies, existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic. A report released today indicated that each of the four major regions achieved month-over-month growth, with the…

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Hudson Valley Unemployment Rate Rises to Record-High 12.2% in June

July 22, 2020

ALBANY—The New York State Department of Labor announced on Tuesday, July 22 that the Hudson Valley unemployment rate rose to 12.2% in June, up from the 11.1% jobless rate in May 2020 for the region. According to preliminary data, New York State’s area unemployment rate seasonally-adjusted unemployment rate increased from 14.5% in May to 15.7%…

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Westchester IDA Approves Assistance Program; OKs Incentives for Two Major Mixed-Use Projects

July 16, 2020

WHITE PLAINS—The Westchester County Industrial Development Agency at its session on July 9 approved a new financial assistance program designed to ensure the short-term viability of both small businesses and not-for-profit corporations negatively impacted by COVID-19. The program allows the IDA to provide financial assistance through the State Disaster and Emergency Loan and Grant Program.…

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NAR’s Fair Housing Policy Director Greene Tells HGAR: To Solve Racism: “You’re Gonna Need a Bigger Boat”

July 16, 2020

WHITE PLAINS—National Association of Realtors Fair Housing Policy Director Bryan Greene said the current racial equality and COVID pandemic crises remind him of the classic motion picture— “Jaws” where actor Roy Scheider as Chief Martin Brody upon seeing the killer great white shark for the first time, says, “You’re Gonna Need a Bigger Boat.” Greene,…

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Realtors Believe Worst of Pandemic’s Impacts are Behind Us

July 15, 2020

WHITE PLAINS—The second quarter home sales market in the Hudson Valley, dominated by restrictions to prevent the spread of the coronavirus in New York State, struggled mightily with sales activity down significantly. Second quarter home sales, according to a recently released report by OneKey™ Multiple Listing Service LLC, were down anywhere from 39.8% in the…

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