Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
LEGISLATIVE AFFAIRS: November Election Update
The 2020 Presidential election is in the books. Former Vice President Biden is now President-elect Joseph R. Biden. History is also being made this election as Kamala Harris is the first female Vice President in U.S. history. She currently serves as U.S. Senator from California. Before that she served as the Attorney General for the State of California and prior to that as District Attorney for the City of San Francisco.
Jan. 20, 2021—Inauguration Day—is when the new President and Vice President will take office.
In the House of Representatives, the Democrats will keep the majority, but it will be a much smaller one. There are still some races outstanding that may take several weeks to call. There were a huge number of mail-in ballots because of the pandemic that were critical in many races nationwide.
In the Senate, it appears control will not be decided for now. Two Senate races in Georgia will take place in January due to the fact that no candidate received 50% of the vote which Georgia requires to be elected. If the Democrats win both seats, they will control the Senate 51 to 50 as the Vice President can break ties. The Republicans only need to win one of those two races to maintain Senate control. If they win both seats, they will have a four-seat majority in the chamber.
No statewide offices (e.g. Governor) were up for election this year in New York. Many open State Senate seats have not yet been called. Republicans are leading in many of the races on Long Island but absentee ballots are still outstanding and need to be counted to determine the winners. In a high-profile Senate race in Westchester, Republican Rob Astorino, former Westchester County Executive, holds a lead over incumbent Democrat Peter Harckham with mail-in-ballots being counted at press time.
In the U.S. House of Representatives, Mondaire Jones has been elected to Congresswoman Nita Lowey’s House seat and Congressman Sean Patrick Maloney is leading in a close race for his House seat.
Stay tuned for updates on these election results.