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Brokers Say Low Inventory Has Not Tempered Housing Demand

July 20, 2023

WHITE PLAINS—Sales volume in the market area of the Hudson Gateway Association of Realtors fell sharply in the second quarter of this year with all counties posting significant sales declines ranging from as low as 19% to a high of nearly 27%. Sales prices continue to rise in the Hudson Valley/Bronx region, although at more…

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HGAR Holds Rockland County Day Program

July 20, 2023

NYACK—In the first of a series of programs that will focus on the key market areas serviced by the Hudson Gateway Association of Realtors, the association staged a highly-informative and well-attended “Rockland County Day” program on July 17 at the Nyack Seaport here. The event brought together Realtors, local politicians, economic development officials and other…

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OneKey MLS: NY Regional Closed Median Sale Price Increased by 3.40% in June

July 20, 2023

FARMINGDALE—OneKey MLS reported a regional closed median sale price of $612,000 in June, a 3.40% increase as compared to the $592,000 reported in May 2023. In a year-over-year comparison, the closed median sale price held steady, decreasing less than 1.00% from the $615,000 reported in June 2022. The OneKey MLS report released on July 18th…

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Tesla to Occupy 927,000 SF Warehouse in Newburgh

July 18, 2023

GOSHEN—The Orange County Partnership reported earlier today that Tesla, the renowned electric car manufacturer, has selected Orange County as the home for its new regional distribution facility for vehicle parts in the Town of Newburgh. Orange County Partnership officials stated that Tesla will occupy 927,000 square feet of speculative space built by Matrix Development Group…

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2023 NAR Member Profile:
Nearly One-Third of Realtors Say Lack of Inventory Stopped Their Clients from Buying Homes in 2022

July 11, 2023

WASHINGTON—Amid a significant shortage of housing supply in 2022, 32% of Realtors named a lack of inventory as the most important factor limiting potential clients from making a purchase, according to the National Association of Realtors’ 2023 Member Profile released on July 11. This annual report analyzes members’ business activity and demographics from the prior…

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Storms Battered Sections of Hudson Valley; Caused Extensive Infrastructure Damage

July 11, 2023

HIGHLAND FALLS—The storm damage from the torrential rains that hit the Hudson Valley on Sunday is considerable. At a press conference on Monday, Orange County Executive Steve Neuhaus said the damage in the Highland Falls/West Point area alone is in the “tens of millions of dollars.” Gov. Kathy Hochul, Neuhaus and other state, county and…

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Northeast Home Sales Fell 2%, Median Sales Price Rose 2.5% in April

June 23, 2023

WASHINGTON—Existing-home sales marginally increased in May, according to the National Association of Realtors. Sales were mixed among the four major U.S. regions, with the South and West posting improvements and the Northeast and Midwest experiencing home sales pullbacks. All four regions experienced year-over-year sales declines. Existing-home sales in the Northeast declined 2.0% from April to…

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SPOTLIGHT ON: Christina Prostano

June 16, 2023

A Modern-Day International Gypsy Christina Prostano, an Associate Broker with Compass in Manhattan, has been in the real estate business for almost 20 years, but traveled quite an eclectic career path to get there. A sort of modern-day international gypsy, Prostano has enjoyed stints as a wedding band singer, an indie rock band performer, a…

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Realtors Show Strong Commitment to Further DEI at Major Regional Conference

June 7, 2023

SLEEPY HOLLOW—Organizers of the second annual Diversity, Equity, & Inclusion Summit were in agreement that this year’s event, held on June 5 and 6 at the Sleepy Hollow Hotel & Conference Center here, featured a wide-ranged offering of programs and discussions geared at providing insights for real estate brokers, agents, as well as association boards…

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Westchester County Executive Latimer Signs ‘Access to Counsel’ Bill into Law

June 1, 2023

WHITE PLAINS—At a press conference on May 31, Westchester County Executive George Latimer signed legislation into law that will create an agency that will provide legal counsel to income-eligible tenants and occupants facing eviction or other housing-related matters. A housing advocacy organization stated that 93% of landlords are represented by counsel in eviction proceedings in…

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New York GOP Lawmakers Fail to Amend SALT Cap in U.S. Debt Ceiling Agreement

May 31, 2023

WASHINGTON—If at first you don’t succeed, try, try and try again. A group of Republican Congressmen submitted an amendment to the federal debt ceiling agreement before the House Rules Committee to raise the SALT Cap from $10,000 to $60,000 for individual tax filers. However, Real Estate In-Depth has learned that the amendment failed to pass…

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New Rochelle Mayor Bramson Named Executive Director of Sustainable Westchester

May 25, 2023

MOUNT KISCO—After serving as Mayor of New Rochelle for nearly two decades, Noam Bramson will be leaving city government at the end of this year for the private sector. Earlier today, Sustainable Westchester announced that Mayor Bramson will take over as Executive Director of the Mount Kisco-based non-profit effective in January 2024. Bramson has served…

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Five Questions With Westchester County Executive George Latimer

May 24, 2023

With the COVID-19 pandemic mostly in the rearview mirror, but economic headwinds on the horizon in 2023, Real Estate In-Depth thought it would be a good time to sit down with Westchester County Executive George Latimer to discuss some of the key issues the county is facing. Latimer, a veteran politician, is in the final…

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Real Estate, Government Officials Agree Housing Crisis is Very Real

May 19, 2023

Should New Plan Utilize a Carrot or Stick? RYE—In the aftermath of Gov. Kathy Hochul’s failed “New York Hosing Compact” bold initiative that called for the development of 800,000 new housing units statewide to address what she termed is a housing crisis in New York State, real estate executives and government officials at a recent…

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U.S. Existing-Home Sales Faded 3.4% in April

May 19, 2023

WASHINGTON—Existing-home sales decreased more than 3% in April, according to the National Association of Realtors. All four major U.S. regions registered month-over-month and year-over-year sales declines. Home sales in the Northeast fell less than 2% last month, according to the NAR report. Total existing-home sales slid 3.4% from March to a seasonally adjusted annual rate…

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Westchester County Tourism Receives Major Grant For Action Plan to Boost Post-Pandemic Tourism

May 15, 2023

WHITE PLAINS—The Westchester County Tourism & Film was recently awarded a $520,000 grant from the U.S. Department of Commerce, through the Economic Development Administration, as part of the American Rescue Plan. This EDA Tourism Recovery Action Plan will support the development of the Westchester County Tourism Recovery Plan with research, strategic planning and prioritization of…

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