WASHINGTON—Existing-home sales fell for the 12th straight month in January, according to a report released on Feb. 21 by the National Association of Realtors. Month-over-month sales were mixed among the four major U.S. regions, as the South and West registered increases, while the East and Midwest experienced declines. All regions recorded year-over-year declines. Total existing-home…
Read MoreNEW ROCHELLE—RXR, master developer of Downtown New Rochelle, held a topping out ceremony with city officials on Feb. 16 of Two Clinton Park, a 28-story mixed-use tower. The development is RXR’s third development in New Rochelle. At the event, RXR executives and City of New Rochelle officials joined partners from Bridge Investment Group, leadership from…
Read MoreARMONK— The Building and Realty Institute released a new study on Feb. 16 entitled: The Housing Stability and Tenant Protection Act: An Analysis of Early Impacts in Westchester County” that revealed both tangible fiscal impacts, as well as unintended consequences of the Housing Stability and Tenant Protection Act (HSTPA) enacted into law in 2019 on…
Read MoreNEW YORK—Approximately 300 Realtor members, as well as federal, state and county political leaders were on hand for the Hudson Gateway Association of Realtors’ 2023 Installation gala on Feb. 2 at the lavish Marina Del Rey in the Bronx. The highlight of the program entitled “Building Bridges That Unite Us” was the installation of veteran…
Read MoreMOUNT PLEASANT, NY—Add Mount Pleasant Town Supervisor Carl Fulgenzi to a growing list of mainly Republican government officials who have come out against Gov. Kathy Hochul’s “New York Compact” housing plan that calls for the development of 800,000 new housing units over the next three years. Fulgenzi in a prepared statement cited the state’s home…
Read MoreSANTA CLARA, CA—Moving in with a romantic partner is a big step and shouldn't be taken lightly. However, when it comes to taking the next step in their relationship, a Realtor.com survey released today indicated 63% of people who have moved in with a romantic partner said that their decision was impacted by finances and/or…
Read MoreWHITE PLAINS—Christie's International Real Estate Westchester and Hudson Valley recently announced the opening of its new regional headquarters and sales gallery in White Plains. The new office is located at 1133 Westchester Ave. and features more than 5,000 square feet of modern office spaces for sales agents and corporate staff, including administrative, operations, marketing, IT…
Read MoreWHITE PLAINS—The COVID-19-induced home sales boom is over and sales activity in 2022 and the first few weeks of 2023 were down significantly thanks to rising inflation and higher mortgage rates. In the first weeks of 2023, the Federal Reserve continued to hike rates to control inflation and is expected to continue to do so…
Read MoreWASHINGTON—Approximately nine out of 10 metro markets registered home price gains in the fourth quarter of 2022 despite mortgage rates eclipsing 7%, according to the National Association of Realtors’ latest quarterly report. A total of 18% of the 186 tracked metro areas registered double-digit price increases over the same time period, down from 46% in…
Read MoreNORWALK, CT—RISMedia announced a new partnership with OneKey MLS, the largest multiple listing service in New York that serves more than 50,000 Realtors and 4,500 participating offices throughout Long Island, New York City and the Hudson Valley, to bring best-in-class articles and need-to-know information to its subscribers. OneKey MLS subscribers will receive a selection of…
Read MoreALBANY—The New York State Association of Realtors at its Mid-Winter Meetings held here earlier this month acknowledged HGAR’s 2022 Realtor of the Year Gail Fattizzi and announced the selection of a number of HGAR members for prestigious community service and industry advocacy awards, as well as several RPAC Hall of Fame inductions. From left, Gail…
Read MoreNORTH CASTLE—The New York State Department of Environmental Conservation and Westchester Land Trust announced on Feb. 3 the acquisition of a total of approximately 68 acres of land in Westchester County to protect the drinking water sources of the Town of North Castle and New York City's New Croton Reservoir system. The funding for these…
Read MoreALBANY—Gov. Kathy Hochul in her address on her proposed Fiscal Year 2024 Executive Budget on Feb. 1 outlined her “New York Housing Compact” that looks to address the housing shortage in New York State by building 800,000 new homes over the next decade. The plan sets housing target growth rates at 3% for downstate municipalities…
Read MoreAlthough the population continues to increase, fewer Americans decided to move in 2022. After a historically low moving rate in 2021, data indicates that even fewer Americans moved across the country last year. However, this is not a new trend. Millions of people moved during the pandemic, driven by the opportunity to work remotely, the…
Read MoreWASHINGTON—Pending home sales increased in December for the first time since May 2022—following six consecutive months of declines—according to the National Association of Realtors. The Northeast and Midwest recorded month-over-month reductions, while the South and West posted monthly gains. All four U.S. regions saw year-over-year decreases in transactions, with the West experiencing the largest decline…
Read MoreNEW YORK—Camber Property Group announced on Jan. 24 it had closed on two 100% affordable properties in The Bronx, preserving and extending affordability for 187 units in transactions valued at a total of $56.4 million. In early January 2023, Manhattan-based Camber closed on the purchase of Morris Heights Mews, a three building, 111-unit, 100% Project…
Read MoreNEW YORK—Residential brokerage firm Douglas Elliman Realty has announced it has promoted its Senior Executive Regional Manager of Sales for Hamptons and North Fork Todd Bourgard to Chief Executive Officer of Long Island, Hamptons and North Fork, effective immediately. In his new role, Bourgard will oversee operations throughout the entire Long Island region, totaling 36…
Read MoreCLARKSTOWN—Newly installed U.S. Rep. Mike Lawler has followed up his recently introduced bill to prevent the implementation of congestion pricing in Manhattan with new bipartisan legislation that would drastically change the SALT Cap and eliminate the SALT Cap marriage penalty. U.S. Reps. Mikie Sherrill (NJ-11) and Mike Lawler (NY-17) announced on Jan. 31 they had…
Read MoreWASHINGTON—Existing-home sales retreated for the 11th consecutive month in December, the National Association of Realtors reported today. Three of the four major U.S. regions recorded month-over-month drops, while sales in the West were unchanged. All regions experienced year-over-year declines. Total existing-home sales decreased 1.5% from November to a seasonally adjusted annual rate of 4.02 million…
Read MoreFARMINGDALE, NY—For December 2022, OneKey MLS reported today a regional closed median sale price of $570,000, representing a 0.90% decrease as compared to the reported $575,000 in November 2022. Between November and December 2022, closed regional sales transactions in the nine-county OneKey MLS region, including residential, condo, and co-op sales, decreased to 4,270 from 4,620,…
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