Residential

U.S. Existing-Home Sales Slid 2.4% in March

April 21, 2023

WASHINGTON—Existing-home sales edged lower in March, according to a report released by the National Association of Realtors on April 20. Month-over-month sales declined in three out of four major U.S. regions, while sales in the Northeast remained steady. All regions posted year-over-year decreases. Existing-home sales in the Northeast were unchanged from February at an annual…

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High Rates, Low Inventory Weigh on Regional Housing Market

April 20, 2023

WHITE PLAINS—The negative trifecta of high inflation and mortgage interest rates and low inventory continues to put a significant dent in home buying sales volume in the New York City/Lower Hudson Valley market. Single-family home prices values continued to rise in the first three months of this year in some markets, but indications are that…

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It’s a Small World After All: HGAR Global Initiatives Paying Dividends

April 20, 2023

Anyone who has ever been to a Disney theme park is familiar with the popular boat ride attraction featuring dolls of the world singing and dancing throughout the seven continents. “It’s a Small World” is meant to show how today’s world is really smaller than we think—given the technology now that can bring us all…

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OneKey MLS: NY Metro Region Residential Closed Median Sale Price Holds Steady; Pending Transactions Increased Significantly in March

April 19, 2023

FARMINGDALE, NY—OneKey MLS reported today that for March 2023, a regional closed median sale price of $550,000, representing no change as compared to the figure reported in February 2023. OneKey service area spans from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains. Between February 2023 and March 2023, closed regional sales…

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Home Appreciation Nets Middle-Income Homeowners $122,100 in Past Decade

April 18, 2023

KANSAS CITY, MO—– A newly released housing report by the National Association of Realtors reveals middle-income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% in the last 10 years. The report indicated all income earner brackets benefitted from home appreciation, however, some stark inequalities in benefits were revealed. The report, Wealth Gains…

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Dancing for the Foundation to Hit the Stage At Glen Island Harbour Club on May 18

April 17, 2023

NEW ROCHELLE—Move over “Dancing with the Stars”! The Hudson Gateway Realtor Foundation has adapted the popular TV series to its own special fundraising event, “Dancing for the Foundation,” taking place on Thursday, May 18 from 6 p.m. to 10 p.m. at New Rochelle’s Glen Island Harbour Club. Anyone who’s a fan of famous dancers like…

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Survey: 82% of Home Sellers Feel ‘Locked In’ by Low Mortgage Rate

April 17, 2023

SANTA CLARA, CA—While the best time to sell your home is upon us, there is one major issue holding sellers back—high mortgage rates. According to a new survey released on April 17 from Realtor.com and HarrisX, the vast majority (86%) of those planning to sell their home in the next 12 months are also planning…

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Home Sales Fall Sharply in First Quarter In The Bronx and Lower Hudson Valley

April 11, 2023

WHITE PLAINS—Coming off of a rocky end to 2022, the real estate industry was hopeful for a better market at the start of 2023. However, the data recorded in Westchester, Putnam, Rockland, Orange, Sullivan and Bronx counties paints a different picture, even when compared to pre-pandemic numbers. While the cyclical nature of the residential market…

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NY State, NYSAR to Hold Fair Housing Conference on April 25

April 4, 2023

ALBANY—In honor of Fair Housing Month, the New York State Division of Human Rights will be hosting a free day-long conference, “Fair Housing Protects, Knowledge Empowers: Increasing Equity through Policy, Practice and Education” on Tuesday, April 25 at the New York State Museum’s Huxley Theater at the Empire State Plaza, 222 Madison Ave. in Albany.…

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NAR: Pending U.S. Home Sales Continue to Improve

March 29, 2023

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%…

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Five Business Organizations Tell Westchester State Delegation Housing Incentives Alone Will Not Work

March 29, 2023

WHITE 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…

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U.S. Existing-Home Sales Surged 14.5% in February; Northeast Sales Rose 4%

March 21, 2023

WASHINGTON—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…

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New York Area Residential Sale Price Fell 4.40% in February

March 20, 2023

FARMINGDALE—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,…

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Governor, Legislature Debate How to Fix State’s Housing Crisis

March 20, 2023

ALBANY—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…

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Corcoran Legends Realty Acquires Renwick Real Estate in Bedford

March 16, 2023

BEDFORD—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…

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Survey Says ‘The Sweet Spot’ to Sell a Home will be April 16-22

March 15, 2023

SANTA 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…

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Energy Provider Marathon Energy Announces Rebrand, Changes Company Name to Energo

March 13, 2023

WOODSIDE—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…

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Yonkers IDA Votes Preliminary Approval of Incentives For $56.8-Million Affordable Senior Rental Building

March 9, 2023

YONKERS—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…

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