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 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…
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 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 MoreWASHINGTON—Mortgage applications decreased 5.7% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ended Feb. 24, 2023, released by the MBA on March 1. On an unadjusted basis, the Index decreased 4% compared with the previous week. The Refinance Index decreased 6% from the previous…
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 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 MoreWHITE PLAINS—New York Gov. Kathy Hochul traveled from Albany to the Pace University Elisabeth Haub School of Law here on Feb. 21 to announce a host of funding awards to communities in the Mid-Hudson Region to finance downtown revitalization campaigns and infrastructure projects. Gov. Hochul announced that the City of Port Jervis will receive $10…
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…
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