The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) increased to 6.31% from 6.30%.
New York recorded the lowest turnover rate among the top 50 metros, with only around 10 out of every 1,000 homes selling in the first nine months of the year.
The share of first-time buyers in the market has contracted by 50% since 2007—right before the Great Recession. The implications for the housing market are staggering.
Phase Two is to include 450 units of permanently affordable rental housing adjacent to the armory
A federal judge on Jan. 3 denied New Jersey’s attempt to stop or stall the launch of the congestion tolling plan two days later.
On the state and local levels, the real estate industry coped with high demand, low inventory and volatile interest rates as the Federal Reserve tried to battle inflation.
While the goal of protecting tenants is important, the reality is that this law could have far-reaching consequences that hurt housing affordability and discourage real estate investment.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
Yun noted that a key trend going forward is that for-sale inventory has been increasing of late and is expected to continue next year.
The Orange County Partnership, founded in 1986, has assisted in a total of 873 attractions and expansion projects in 38 years.
Fernandez, who has served as HGAR’s CEO since September 2023, was among three award winners. She joined HGAR after having served as CEO of the Greater Louisville Association of Realtors.
Barrett was president of the Putnam County Association of Realtors in 2008, a year before PCAR’s merger with the Westchester County Board of Realtors.
NAR officials noted yesterday that the court heard from all parties as well as objectors and the Department of Justice. Once arguments concluded, the court quickly ruled to grant final approval.
MTA CEO Janno Lieber and others expressed support for the lower tolling fee that the governor said would bring in the $15 billion to the MTA that the higher fee was projected to raise.
The FARE Act will undoubtedly lead to higher rents and reduced access to available rental listings for prospective tenants, exacerbating housing affordability challenges New Yorkers already face.
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