Latest news (Page 64)
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.
The Truth About the NAR Settlement Agreement
The settlement achieves two important goals: protecting members to the greatest extent possible and preserving consumer choice.
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.
2023 Wall Street Average Bonus for NYC’s Securities Industry Workers was $176,500
The $33.8-billion bonus pool for 2023, which closely matched the 2022 pool, was well below the 25% growth seen in 2020 ($37.1 billion).
NAR Claps Back on 6% Commission Requirement Reports, Corrects the Record by Stating NAR Does Not Set Commissions
The listing broker retains the right to determine the amount of compensation offered to subagents, buyer agents, or to brokers acting in other agency or nonagency capacities, which may be the same or different.”
FROM THE CEO’S DESK: HGAR Helps Members Navigate Change
Under the circumstances, this settlement, which is subject to court approval, seems to be the best possible outcome.
NAR President Sears Says ‘Settlement Represents a Pivotal Moment for Our Association and Our Industry’
In the settlement, we have agreed to require MLS participants working with buyers to enter into written representation agreements with their buyers. This change will go into effect in mid-July 2024.