“Home sales have struggled to gain traction, but prices continue to rise, contributing to record-high housing wealth,” said NAR Chief Economist Lawrence Yun.
The rally underscored our industry’s leadership in advancing housing policy and demonstrated the collective strength of Realtors when we unite around a common cause.
Technology continues to lead in private-sector job cuts as companies restructure amid AI integration, slower demand, and efficiency pressures.
The rally underscored our industry’s leadership in advancing housing policy and demonstrated the collective strength of Realtors when we unite around a common cause.
We did it, and Realtors and New York City move forward because of it.
This Election Day marks a historic victory for housing progress and for our industry, as voters overwhelmingly approved Proposal 3: “Simplify Review of Modest Housing and Infrastructure Projects.” This measure, now officially passed, will make it easier to create small‐scale housing and community projects in neighborhoods across the city by introducing a new Expedited Land Use Review Process (ELURP).
Under the newly approved process, modest developments including those rezoning buildings up to 45 feet tall (roughly four stories) in low‐density districts will now undergo a streamlined, 60‐day review by the Community Board and the Borough President, followed by a 30‐day review and final decision by the City Planning Commission. In most cases, this reform removes the final approval step from the City Council, significantly reducing the time and bureaucracy that have slowed much-needed housing projects for years.
This is a major policy win for Realtors and for the thousands of New Yorkers who have been calling for sensible housing reform. The Expedited Land Use Review Process will help cut through red tape, unlock new opportunities for small housing and infrastructure projects, and ultimately make it easier to bring attainable homes to market.
Our association and members were deeply engaged in this effort. From the earliest planning stages to Election Day, we ran a strategic, citywide campaign that reached millions of residents across all five boroughs. Through rallies, neighborhood outreach, and educational efforts, Realtors helped make the case for a smarter, fairer review process and New Yorkers listened. The passage of Proposal 3 is not just a victory at the ballot box; it’s a testament to what coordinated advocacy and partnership can accomplish when our mission is clear: more housing opportunities for all.
A key moment in this campaign came on October 27th, when we hosted a Realtors Rally at City Hall in partnership with Realtor associations across New York City. This powerful show of unity brought together members, housing advocates, and city leaders to voice strong support for Proposal 3. Standing on the steps of City Hall, Realtors from across the five boroughs sent a clear message—New York needs more housing, and we are ready to be part of the solution.
The rally underscored our industry’s leadership in advancing housing policy and demonstrated the collective strength of Realtors when we unite around a common cause. It was a defining moment that helped build momentum leading up to Election Day and it clearly made an impact.
Beyond the ballot measures, Election Day also brought a new political landscape to New York City. Former Assembly member Zohran Mamdani has been elected as the city’s next mayor, ushering in a new era of leadership and vision. The results also brought changes in several key offices, including borough presidents, the comptroller, public advocate and the city council.
This transition signals an important opportunity for Realtors and housing advocates alike. The incoming administration has signaled a strong focus on affordability, equitable growth, and land‐use modernization priorities that align closely with the mission of our industry. With Proposal 3 now law, the timing couldn’t be better to engage with city leadership and ensure that implementation reflects both community priorities and real‐world housing needs.
The momentum is clear: voters want progress on housing. The success of Proposal 3 demonstrates that New Yorkers are ready for solutions that balance growth with thoughtful community input. For Realtors, this victory reinforces our credibility as trusted housing advocates not only for buyers and sellers, but for the overall economic vitality of our city.
As the new administration prepares to take office, our focus now shifts to collaboration and implementation. We’ll continue working with city officials, community boards, and development partners to ensure the new ELURP process delivers on its promise: faster, fairer, and more predictable pathways to build the homes New Yorkers need.
Voters also approved three other housing propositions. Voters approved Proposition 2, which fast-tracks affordable housing approvals; Proposition 4, which creates an affordable housing appeals board and Proposition 5, which seeks to consolidate and digitize the city’s mapping systems.
This is more than a policy win; it’s a turning point. We’ve proven that when Realtors lead with expertise, integrity, and collaboration, we can shape the future of housing policy in meaningful ways.
To every member who participated in this campaign by volunteering, advocating, or simply voting—thank you. Your voice made the difference.
The work continues, but today, we celebrate. Proposal 3 is a win for housing. A win for progress. And a win for Realtors across New York City.
About the author: Dr. Jermaine Meadows is the Director of Government Affairs for the Bronx and Manhattan for the Hudson Gateway Association of Realtors.
For Realtors, this moment is about more than voting it’s about advocacy, leadership and accountability.
The role of an LPC includes attending public meetings, tracking local legislation, reporting back to HGAR’s Government Affairs team, and supporting the association’s broader communications strategy.
Against this backdrop, HGAR and our partner associations have officially launched the “Vote Yes on Proposal 3” campaign, a nearly $400,000 initiative to modernize New York City’s land use process and unlock housing opportunities across all boroughs.
The country’s highest court won’t take up an appeal that sought to overturn a ruling favoring the National Association of Realtors. NAR successfully litigated the antitrust case twice in lower courts.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
