NEW YORK—The Fund for the City of New York (Fund) in partnership with United Way of New York City (UWNYC) released on April 25th the “2023 NYC True Cost of Living report,” which found that 50% of working-age households in New York City do not earn enough to meet basic needs. This equates to 1,298,212…
Read MoreWASHINGTON—Existing-home sales edged lower in March, according to a report released by the National Association of Realtors on April 20. Month-over-month sales declined in three out of four major U.S. regions, while sales in the Northeast remained steady. All regions posted year-over-year decreases. Existing-home sales in the Northeast were unchanged from February at an annual…
Read MoreWHITE PLAINS—The negative trifecta of high inflation and mortgage interest rates and low inventory continues to put a significant dent in home buying sales volume in the New York City/Lower Hudson Valley market. Single-family home prices values continued to rise in the first three months of this year in some markets, but indications are that…
Read MoreAnyone who has ever been to a Disney theme park is familiar with the popular boat ride attraction featuring dolls of the world singing and dancing throughout the seven continents. “It’s a Small World” is meant to show how today’s world is really smaller than we think—given the technology now that can bring us all…
Read MoreFARMINGDALE, NY—OneKey MLS reported today that for March 2023, a regional closed median sale price of $550,000, representing no change as compared to the figure reported in February 2023. OneKey service area spans from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains. Between February 2023 and March 2023, closed regional sales…
Read MoreKANSAS CITY, MO—– A newly released housing report by the National Association of Realtors reveals middle-income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% in the last 10 years. The report indicated all income earner brackets benefitted from home appreciation, however, some stark inequalities in benefits were revealed. The report, Wealth Gains…
Read MoreNEW ROCHELLE—Move over “Dancing with the Stars”! The Hudson Gateway Realtor Foundation has adapted the popular TV series to its own special fundraising event, “Dancing for the Foundation,” taking place on Thursday, May 18 from 6 p.m. to 10 p.m. at New Rochelle’s Glen Island Harbour Club. Anyone who’s a fan of famous dancers like…
Read MoreSANTA CLARA, CA—While the best time to sell your home is upon us, there is one major issue holding sellers back—high mortgage rates. According to a new survey released on April 17 from Realtor.com and HarrisX, the vast majority (86%) of those planning to sell their home in the next 12 months are also planning…
Read MoreWHITE PLAINS—Coming off of a rocky end to 2022, the real estate industry was hopeful for a better market at the start of 2023. However, the data recorded in Westchester, Putnam, Rockland, Orange, Sullivan and Bronx counties paints a different picture, even when compared to pre-pandemic numbers. While the cyclical nature of the residential market…
Read MoreWASHINGTON—Nearly half of seller's agents (48%) reported that staging a home decreased its time on market, according to a newly released report by the National Association of Realtors. For both buyers' and sellers' agents, one in five (20%) said home staging increased the offer price by between 1% and 5% compared to similar homes on…
Read MoreALBANY—In honor of Fair Housing Month, the New York State Division of Human Rights will be hosting a free day-long conference, “Fair Housing Protects, Knowledge Empowers: Increasing Equity through Policy, Practice and Education” on Tuesday, April 25 at the New York State Museum’s Huxley Theater at the Empire State Plaza, 222 Madison Ave. in Albany.…
Read MoreWASHINGTON—Pending home sales grew in February for the third consecutive month, the National Association of Realtors reported on March 29. Three U.S. regions posted monthly gains, while the West declined. All four regions saw year-over-year decreases in transactions. The Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, improved 0.8%…
Read MoreWHITE PLAINS—The chief executives of five major business organizations in Westchester County, including the Hudson Gateway Association of Realtors, have jointly sent a letter to the Westchester State Delegation urging them that incentives alone will not solve the housing crisis in Westchester County and therefore lawmakers should enact some key facets of Gov. Kathy Hochul’s…
Read MoreWASHINGTON—Existing-home sales reversed a 12-month slide in February, registering the largest monthly percentage increase since July 2020, according to the National Association of Realtors. Month-over-month sales rose in all four major U.S. regions. All regions posted year-over-year declines. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, vaulted 14.5% from January…
Read MoreFARMINGDALE—OneKey MLS has reported a regional closed median sale price of $550,000 in February 2023 for the New York area residential market, representing a 4.40% decrease as compared to the reported $575,000 in January 2023. OneKey MLS reported on March 20 that between January 2023 and February 2023, closed regional sales transactions, including residential, condo,…
Read MoreALBANY—As negotiations continue at the State Capital on the 2023-2024 New York State Budget, Gov. Kathy Hochul and state legislative leaders agree that the state is facing a housing crisis. The issue seems to be how to go about solving it, through offering carrots in the form of incentives to spark new affordable housing construction…
Read MoreBEDFORD—Corcoran Legends Realty, a franchisee of Corcoran Group LLC, recently announced its acquisition of storied local real estate brokerage firm Renwick Real Estate in Bedford, NY. The addition of Renwick Real Estate’s agents and central Bedford office adds to Corcoran Legends Realty’s significant presence across Westchester County, company officials noted. “We are proud to welcome…
Read MoreSANTA CLARA, CA—While any astute real estate professional will tell you it's nearly impossible to time the real estate market, there is one week that is most likely to get home sellers the best possible outcome, according to Realtor.com. Nationally, homeowners who list the week of April 16-22, 2023 will hit the sweet spot in…
Read MoreWOODSIDE—Marathon Energy, a full-service independent retail energy provider based in Woodside and an affiliate of the Hudson Gateway Association of Realtors, announced recently it is changing its company name to Energo and unveiled a new logo. The change is in response to its accelerated growth and only impacts the company name and logo. There is…
Read MoreYONKERS—The Yonkers Industrial Development Agency voted at its March 6 monthly meeting preliminary approval of financial incentives for a $56.8-million affordable housing project for low-income seniors. Located at 345 McLean Ave., the 12-story residential building will feature 105 studio, one-and two-bedroom apartments for seniors 62 years of age and older whose income is at or…
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