Market
Pending Home Sales Ascended 3.4% in March
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—increased to 78.2 in March.
Northeast Existing Home Sales Jumped 4.2% in March
Existing-home sales in the Northeast climbed 4.2% from February to an annual rate of 500,000 in March, ending a four-month streak where sales in the Northeast registered 480,000 units
HGAR Report: Demand for Homes in the Bronx, Hudson Valley Remained High in March; Sales and Inventory Still Below Normal as Prices Rose in all Regions
Today’s report by the Hudson Gateway Association of Realtors, based on data supplied by OneKey MLS, also indicates inventory levels declined among all property types in all regions.
U.S. Pending Home Sales Rose 1.6% in February; Northeast Suffered Slight Decline in Pending Transactions
The Northeast PHSI decreased 0.3% from last month to 63.4, a decline of 9.0% from February 2023.
Realtor.com: Renting Now Beats Buying in All of the Largest U.S. Metros
According to the Realtor.com report, the New York-Newark-Jersey City, NY-NJ-PA market posted a median rent of $2,852 in February, as compared to the Monthly Buy Cost of $4,995, for a savings of $2,143 and a 75% cost difference.
NY Regional Single-Family Home Price Posted Double-Digit Gain in February; Pending Sales for Condos, Co-Ops Rose Sharply
There were 426 closed sales transactions and 610 pending sales transactions reported for condos in February 2024, representing a 12.4% increase in closed sales transactions and a 23.0% increase in pending sales transactions.
Bronx, Hudson Valley Home Prices Continue to Soar; Pending Sales Increased 8.4% in HGAR Market Area
Westchester County experienced a slight increase in home sales by just 1.7% in February, along with an almost 14% increase in home prices, with a median of $831,250.
U.S. Existing-Home Sales Rose 9.5% in February, Largest Increase in a Year; Northeast Termed ‘Regional Underperformer’
At 480,000 units, existing-home sales in the Northeast were identical to January but down 7.7% from February 2023. It's the fourth consecutive month that home sales in the Northeast registered 480,000 units.
NAR’s Yun Predicts Four to Six Rate Cuts in Next Two Years; Continued Troubles for Office Market
A key data point will be the CPI reaching its 2% target. The latest CPI number for February was 3.1%.
Realtor.com Report: Early Indications Show a Promising Spring Real Estate Season
The New York-Newark-Jersey City, NY, NJ-PA market posted a median listing price in February of $750,000 up 10.2% year-over-year.
NAR: Pending Home Sales in Northeast Rose Slightly in January
The Northeast PHSI increased 0.8% from last month to 63.6, a decline of 5.5% from January 2023.
Limited Supply Fuels Price Growth in the Greater NYC Metro Area; Pending Home Sales Higher Throughout Region
As the spring selling season approaches, the region’s home sales sector is bolstered by a noticeable increase in pending sales throughout the region.