2022 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…
Read MoreNEW YORK—The Conference Board Consumer Confidence Index decreased in February for the second consecutive month. The Index now stands at 102.9 (1985=100), down from 106.0 in January (a downward revision), The Conference Board announced on Feb. 28. The Present Situation Index—based on consumers' assessment of current business and labor market conditions—increased to 152.8 (1985=100) from…
Read MoreWASHINGTON—Pending home sales improved in January for the second consecutive month, according to statistics released today by the National Association of Realtors. All four U.S. regions posted monthly gains but saw year-over-year drops in transactions. The Pending Home Sales Index improved 8.1% to 82.5 in January. Year-over-year, pending transactions dropped by 24.1%. An index of…
Read MoreWASHINGTON—The National Association of Realtors unveiled on Feb. 22 its fifth iteration of its award-winning “That’s Who We R” national advertising campaign. This year’s creative demonstrates the many ways Realtors are “here for it all,” working to make the dream of property ownership a reality for their clients. The campaign, created by Havas Chicago, further…
Read MoreIRVINGTON—The historic three-building, 138,000-square-foot Astor Buck Campus has been sold to New York City-based Carvi Properties for $23.5 million. The deal was announced by Marcus & Millichap. The firm’s Alan Cafiero, Mark Gjonbalaj and Matt Leszyk represented the seller, Stanford Bridge LLC and procured the buyer, Carvi Properties Inc. of New York City. At the…
Read MoreFARMINGDALE, NY—OneKey MLS reported on Feb. 21 an increase of 0.90% in the closed median sale price for the New York metro region between December 2022 and January 2023. For January 2023, OneKey MLS reported a regional closed median sale price of $575,000, representing a 0.90% increase as compared to the reported $570,000 in December…
Read MoreWASHINGTON—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 MoreWHITE PLAINS—Sales executives from Related Cos., Compass and Sotheby’s believe that now that mortgage rates have stabilized, investor interest, including demand from foreign buyers, has returned to the New York metro area housing market. The Hudson Gateway Association of Realtors, Inc. and OneKey MLS recently hosted a virtual panel featuring real estate experts who discussed…
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 MoreWHITE PLAINS—The Hudson Gateway Association of Realtors is co-hosting a timely webinar on Feb. 23 focused on Gov. Kathy Hochul’s “New York Compact" housing initiative that calls for the development of 800,000 new homes statewide in three years. Other co-hosts of the free Zoom program that will begin at 9 a.m. are the Westchester County…
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