The congestion pricing program was instituted in January 2025 and during its first year in operation, congestion pricing raked in more than $550 million for the MTA’s $15-billion capital program.
If lawmakers believe that detention facilities are inconsistent with state priorities, then legislation should be considered that restricts the purchase or operation of such facilities within state borders.
As we celebrate Women’s History Month, we honor every woman who made real estate her platform for empowerment, for equity and for legacy.
“At this critical stage of the housing market, it is all about mortgage rates,” said NAR Chief Economist Lawrence Yun.
WASHINGTON—Pending home sales declined 6.3% in April, according to data released by the National Association of Realtors on May 29. All four U.S. regions experienced month-over-month losses in transactions. Year-over-year, contract signings rose in the Midwest, but fell in the Northeast, South and West—with the West suffering the greatest loss.
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—dove 6.3% to 71.3 in April. Year-over-year, pending transactions retracted by 2.5%. An index of 100 is equal to the level of contract activity in 2001.
“At this critical stage of the housing market, it is all about mortgage rates,” said NAR Chief Economist Lawrence Yun. “Despite an increase in housing inventory, we are not seeing higher home sales. Lower mortgage rates are essential to bring home buyers back into the housing market.”
The Northeast PHSI decreased 0.6% from last month to 62.1, down 3.0% from April 2024. The Midwest index condensed 5.0% to 73.5 in April, up 2.2% from the previous year.
The South PHSI sank 7.7% to 85.9 in April, down 3.0% from a year ago. The West index degraded 8.9% from the prior month to 53.3, down 6.5% from April 2024.
“Home buyers have a better chance to purchase homes in affordable regions such as the Midwest, where the typical home price is $313,000—25% below the national median home price,” added Yun. “Moreover, with housing inventory levels reaching five-year highs, home buyers in nearly every region of the country are in a better position to negotiate more favorable terms.”
The congestion pricing program was instituted in January 2025 and during its first year in operation, congestion pricing raked in more than $550 million for the MTA’s $15-billion capital program.
TKF Burnside officials stated the firm plans to modernize and enhance the existing hospitality-level amenity offerings.
The 1.15 million-square-foot retail center, which originally housed 30 stores when it opened in 1954, is now home to more than 100 retail, dining, educational and entertainment venues.
Sherman most recently served as New York City’s Chief Equity Officer and Commissioner of the Mayor’s Office of Equity & Racial Justice.
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