WASHINGTON—As states across the nation continued to reopen their economies, existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic. A report released today indicated that each of the four major regions achieved month-over-month growth, with the…
Read MoreNEW YORK— Tishman Speyer President and CEO Rob Speyer announced on July 20 that the firm has hired Gary Rodney to help establish and manage a new affordable housing platform that will initially focus on the New York City region. Rodney will help Tishman Speyer source opportunities to acquire, redevelop and engage in ground-up construction…
Read MoreALBANY—The New York State Department of Labor announced on Tuesday, July 22 that the Hudson Valley unemployment rate rose to 12.2% in June, up from the 11.1% jobless rate in May 2020 for the region. According to preliminary data, New York State’s area unemployment rate seasonally-adjusted unemployment rate increased from 14.5% in May to 15.7%…
Read MoreWHITE PLAINS—The Westchester County Industrial Development Agency at its session on July 9 approved a new financial assistance program designed to ensure the short-term viability of both small businesses and not-for-profit corporations negatively impacted by COVID-19. The program allows the IDA to provide financial assistance through the State Disaster and Emergency Loan and Grant Program.…
Read MoreWHITE PLAINS—National Association of Realtors Fair Housing Policy Director Bryan Greene said the current racial equality and COVID pandemic crises remind him of the classic motion picture— “Jaws” where actor Roy Scheider as Chief Martin Brody upon seeing the killer great white shark for the first time, says, “You’re Gonna Need a Bigger Boat.” Greene,…
Read MoreWHITE PLAINS—The second quarter home sales market in the Hudson Valley, dominated by restrictions to prevent the spread of the coronavirus in New York State, struggled mightily with sales activity down significantly. Second quarter home sales, according to a recently released report by OneKey™ Multiple Listing Service LLC, were down anywhere from 39.8% in the…
Read MoreBy Eric Pierson, AICP Editor’s Note: The following analysis was originally published on the Business Council of Westchester’s Data Exchange (https://thebcw.org/data/)on July 9, 2020. As we get farther away from the beginning of the COVID-19 pandemic in the United States, a clearer picture is beginning to emerge of the economic damage rendered by this disease.…
Read MoreWHITE PLAINS—Stymied by COVID-19 from on-site volunteer events since mid-March, the Hudson Gateway Realtor Foundation (HGRF) is carefully resuming volunteering with local charities and non-profit organizations throughout the Hudson Valley. On July 28, Realtor volunteers will join an outdoor event, sponsored by the Westchester County Parks Foundation, to clean up Twin Lakes Park in Eastchester.…
Read MoreWASHINGTON—After enduring months of setbacks brought on by the coronavirus pandemic, a new survey from the National Association of Realtors released on Thursday, July 9 shows that more than nine in 10 of its members believe they are in the process of recovering as many states start to reopen their economies. NAR's 2020 Market Recovery…
Read MoreWHITE PLAINS— The optimism felt by residential real estate practitioners in the first quarter of 2020 when strong sales figures in the lower Hudson Valley region, served by OneKey™ Multiple Listing Service LLC, seemed to be an indication of a robust year ahead for residential real estate sales. This optimism took an abrupt left turn…
Read MoreWASHINGTON—Pending home sales mounted a record comeback in May, seeing encouraging contract activity after two previous months of declines brought on by the coronavirus pandemic, according to the National Association of Realtors. Every major region recorded an increase in month-over-month pending home sales transactions, while the South also experienced a year-over-year increase in pending transactions.…
Read MoreWHITE PLAINS—In a 37-page ruling, U.S. District Court Judge C.J. McMahon denied a request by a group of Westchester County residential landlords to impose a temporary restraining order on Gov. Andrew Cuomo’s Executive Order that extended a moratorium on evictions of commercial and residential tenants due to the coronavirus pandemic until Aug. 20, 2020. The…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors and co-sponsor TitleVest recently assembled a panel of powerhouse New York City residential brokerage executives who offered candid assessments of the area’s real estate markets now and going forward and what the real estate industry must do in this time of civil unrest. The online panel discussion held…
Read MoreALBANY—The New York State Department of State announced that the new regulations for real estate professionals to help combat housing discrimination took effect on June 20, 2020. The new regulations, which the New York State Real Estate Board approved in December 2019, mandate enhanced disclosures by real estate professionals to help ensure prospective home buyers,…
Read MoreNEW YORK—Consumers now have access to a listing search portal that boasts approximately 40,000 listings from some 500 communities throughout the New York metropolitan area. Officials with OneKey MLS staged a virtual press conference on Monday, June 22 to announce that the consumer-facing MLS platform, which provides real estate professionals and their clients unprecedented access…
Read MoreWASHINGTON—Existing-home sales fell in May, marking a three-month decline in sales as a result of the coronavirus outbreak, according to the National Association of Realtors. Each of the four major regions witnessed dips in month-over-month and year-over-year sales, with the Northeast experiencing the greatest month-over-month drop at 13%. Total existing-home sales, completed transactions that include…
Read MoreNEW YORK—The first regional MLS in the New York Metro area, OneKey MLS, has announced the launch of its new consumer search website—OneKeyMLS.com. The new listing search portal offers consumers more than 40,000 listings and some 500 communities throughout the New York Metropolitan area, making it the largest selection of for sale and lease listings…
Read MoreRYE—Houlihan Lawrence announced on June 15th the appointment of Susanna Cronin as the new manager of its Rye brokerage. Cronin, who has more than two decades of experience in residential real estate, has lived in Rye for the past 25 years and has an intimate knowledge of the Sound Shore communities, company officials stated. Cronin…
Read MoreNEW YORK—The owners of Terra Holdings announced recently that brokerage firm Halstead is now part of Brown Harris Stevens. The strategic restructuring of Terra Holdings subsidiaries significantly expands the footprint and resources of Brown Harris Stevens residential brokerage. The transition will occur with a phased in approach beginning in New York City. Senior management of…
Read MoreWhile predicting continued difficult times ahead, NAR Chief Economist Lawrence Yun and Joseph Rand, chief creative officer for Better Homes and Gardens Rand Realty, agree that the national and local housing markets entered the coronavirus pandemic in March in a strong position, and will enjoy a robust rebound as it reopens in coming weeks. Yun…
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