WASHINGTON—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 MoreWASHINGTON—The share of baby boomers has surpassed millennials and now makes up the largest generation of home buyers, according to the latest study from the National Association of Realtors released on March 28. The 2023 Home Buyers and Sellers Generational Trends report, which examines the similarities and differences of recent home buyers and sellers across…
Read MoreWhen Real Estate In-Depth pondered who would be the candidate for the Five Questions feature for Women’s Month, the logical choice was MaryAnne Gilmartin. Her background in real estate as she tells it almost began by happenstance, but her hard work has led her to found her own New York City-based real estate development firm—MAG…
Read MoreWHITE PLAINS—Black History Week was unofficially started in 1915, 50 years after the Thirteenth Amendment abolished slavery in the United States, to research and promote the achievement of Black Americans and other people of African descent. Fast forward to 1926, the second week of February – which coincides with the birthdays of Abraham Lincoln and…
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 MoreWHITE PLAINS—Commercial property owners and developers in Westchester have until May 15 to submit proposals for leasing new office space that will be used by the Westchester County Department of Health. Details about space requirements are listed in a recently released RFP (Request for Proposals). Primarily the new office space will be used to consolidate…
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 MoreWHITE PLAINS—Chief officials from the cities of White Plains, Yonkers and New Rochelle agree that investment interest in new development projects in their respective cities remains high despite higher construction and labor costs and the predictions by some that a recession may be on the horizon. The Building Owners and Managers Association (BOMA) Westchester held…
Read MoreIn the post-Pandemic world, many people have returned to their offices full-time or on a hybrid schedule, and live events from small meetings to large conventions have slowly started to return. While videoconferencing remains a staple in most businesses, more people coming back into an office could mean more reorganization of workspaces. “During the Pandemic,…
Read MoreBy Maureen Halahan and Marc Baez Editor’s Note: This article first appeared in Mid Hudson News (midhudsonnews.com). In business, as in life, we can find ourselves in a rut. The way out may be complex or simple, but it always involves change. That’s the key to moving forward; idling holds you back, and doing nothing…
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 MoreWHITE PLAINS—Commercial brokerage firm CBRE announced on March 14 that the headquarters building for the Hudson Gateway Association of Realtors has been sold to Hines U.S. Property Partners. Hines U.S. Property Partners is the flagship commingled U.S. core plus fund for Hines, which is headquartered in Houston. No financial terms of the transaction were disclosed…
Read More2022 HGAR President Anthony Domathoti, HGAR Broker-Owner Dorothy Botsoe and former HGAR CEO Richard Haggerty will be inducted into the 2023 NAR RPAC Hall of Fame on May 8 at a ceremony in Washington, DC.
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…
Read MoreSANTA CLARA, CA—The U.S. supply of homes for sale rose at a record annual pace for the sixth month in a row, up 67.8% year over year in February, signaling the housing market's continued rebalancing, according to the Realtor.com Monthly Housing Trends Report released earlier this month. Despite the significant increase in inventory over last…
Read MoreWASHINGTON—While the U.S. homeownership rate has continually increased during the last decade —to 65.5% in 2021 (from 64.7% in 2011)—the Black homeownership rate has not kept pace with increases of other racial groups. Also, people of color endure significant buying challenges throughout and even after their home purchase, according to a report released earlier this…
Read MoreNEW YORK—Earlier this month, Bronx Borough President Vanessa L. Gibson delivered her first State of the Borough address at Manhattan College, outlining the accomplishments made by her administration in 2022 and unveiling what she termed as a bold strategic agenda for 2023. With the theme, “Borough of Opportunities,” Borough President Gibson announced new initiatives in…
Read MoreNORTHPORT, NY—Howard Hanna Real Estate Services reported on March 1 that it will be joining forces with Coach Realtors, a real estate brokerage firm based on Long Island, N.Y., forming Howard Hanna | Coach Realtors. “The partnership of two industry powerhouses will transform into even more amazing opportunities for our agents and clients,” said Howard…
Read MoreALBANY—New York Gov. Kathy Hochul announced on Feb. 24 a $2.2-million expansion of New York’s Fair Housing Testing Program designed to root out discrimination in home rental and sale transactions. New York State has partnered with six nonprofit organizations across the state to deploy undercover testers to act as potential renters and home seekers. The…
Read MoreWHITE PLAINS—Westchester County announced on Feb. 22 that the next phase of Westchester County Office of Economic Development’s Business FIRST (Financial Investments for Recovery and a Sustainable Tomorrow) program will focus on downtown improvement and stimulating economic revitalization at the local level. This Pilot Grant Program will help four municipalities reimagine and revitalize their downtown…
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