Market
NAR: U.S. Existing-Home Sales Rose 2.2% in December; Northeast Sales Climbed Nearly 4% Despite High Rates
U.S. Existing-Home Sales Rose 2.2% in December
Latest news (Page 23)
Legal-Advocacy
BARRISTER'S BRIEFING: Piling On: Local, State and National Updates
At the recent May 1, 2024, HGAR Board of Directors meeting, the Board voted on two association matters relating to the filing of arbitrations and administration of ethics complaints.
Viewpoints
PRESIDENT’S CORNER: Heritage and Homeownership—Honoring the Past, Building for the Future
My parents’ story is one of countless others who immigrated to the United States in search of a better life. They faced immense challenges—language barriers, cultural adjustments, and economic hardships—but their determination never wavered.
News
Bronx EDC Launches $10-Milliion Microloan Program for Small Businesses
The new loan program builds on the Borough President and BXEDC’s commitment to support the growing small business sector in the Bronx and follows a $10-million loan program announced last fall.
New York State Housing Authorities to Receive $3.3 Billion in HUD Funding
The New York City Housing Authority received the largest funding allocation in the New York metro region at more than $1.5 billion.
News
NYS Gaming Commission’s New Timeline Sets Downstate Casino Decision at Year’s-End 2025
Allowing the proposals to clear the environmental review process would eliminate a nightmare for Gaming Commission staff since the projects would need to be updated and could be subject to change.
Featured
HGAR Leads Opposition to Implementing City of Mount Vernon Law to Increase Real Estate Transfer Taxes
With the median sales price for a single-family home in the City of Mount Vernon at $627,550 as of April, a 1.5% transfer tax translates to $9,413.25.
Featured
HGAR: New York Metro Area Home Prices Increased by More than 18% in First Quarter of 2024
New York City and the Hudson Valley continue to be among the most desirable locations in the nation, so it’s no surprise that inventory is at a premium and home prices are reflecting that.
News
Westchester CRE Market Ended First Quarter with Mostly Increased Activity
Boasting a vacancy rate in the low 4% and uninterrupted positive trends in rental rates, fundamentals for Westchester multifamily are strong.
News
Orange County Looks to Capitalize on New York State’s Investment in Clean Energy
The Orange County Partnership’s Eckert said that the latest solicitations serve as “a critical path item for advancing our clean energy future.”
Market
NAR: New York Metro Region Posted Ninth Highest Home Price Increase in First Quarter at 18.4%
Compared to one year ago, the national median single-family existing-home price climbed 5% to $389,400. In the prior quarter, the year-over-year national median price increased 3.4%.
News
Yonkers IDA Grants Preliminary Approval of Incentives for Two Projects Valued at Nearly $175 Million
Located at 632-636 South Broadway, The Parker will feature 160 new units of all affordable housing in an elevator building, with on-site parking. The apartments will be priced for families with incomes at or below 80% of the area median income.
Featured
NAR’s Yun Predicts Falling Long-Term Interest Rates, Rising Existing-Home Sales in 2024
In 2022, the median net worth of homeowners was $396,200, while the median net worth of renters was $10,400.