Backed by $405 million in city, state, federal funding, and an anticipated federal loan, the project will create a new state-of-the-art, intermodal food distribution facility.
Plunkett, who joined the Bronx-based Simone Development Companies in 2018, is well known in Westchester County’s business and not-for-profit community.
Mortgage rates started the New Year with a decline to 6.25%, the lowest level since September 2024.
“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.”
Backed by $405 million in city, state, federal funding, and an anticipated federal loan, the project will create a new state-of-the-art, intermodal food distribution facility.
Mortgage rates started the New Year with a decline to 6.25%, the lowest level since September 2024.
Levy previously served as Senior Vice President of Homeownership and Community Development at Homes and Community Renewal (HCR), New York State’s affordable housing agency.
The properties contain a contiguous expanse of forest, wetlands, and streams, as well as 1,150 feet of frontage on the Neversink River.
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