Westchester County consistently leads the market with the highest median sale prices, peaking at $1,031,500 in June 2024 before settling at $860,000 in March 2025.
This event will bring together major stakeholders to strategize how to realize Rockland’s housing potential while maintaining the character of existing neighborhoods.
The event is geared toward real estate professionals, landlords and community advocates and will include identifying sources of income discrimination.
Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability.
WASHINGTON —Pending home sales retracted 5.5% in December—following four consecutive months of increases—the National Association of Realtors reported today (Jan. 30). All four U.S. regions experienced month-over-month losses in transactions, with the most significant fall in the West. Year-over-year, contract signings fell in all four U.S. regions, with the Midwest seeing the largest decrease.
The Pending Home Sales Index slid 5.5% to 74.2 in December. Year-over-year, pending transactions declined 5.0%. Last year’s cyclical low point occurred in July 2024 at 70.2. An index of 100 is equal to the level of contract activity in 2001.
“After four straight months of gains in contract signings, one step back is not welcome news, but it is not entirely surprising,” said NAR Chief Economist Lawrence Yun. “Economic data never moves in a straight line. High mortgage rates have not significantly dented housing demand due to greater numbers of cash transactions.”
“Contract activity fell more sharply in the high-priced regions of the Northeast and West, where elevated mortgage rates have appreciably cut affordability,” Yun added. “Job gains tend to have greater impact in more affordable regions. It is unclear if heavier-than-usual winter precipitation impacted the timing of purchases.”
The Northeast PHSI fell 8.1% from last month to 62.3, down 1.3% from December 2023. The Midwest index shrunk 4.9% to 74.3 in December, down 6.9% from the previous year.
The South PHSI slipped 2.7% to 90.6 in December, down 5.1% from a year ago. The West index tumbled by 10.3% from the prior month to 57.7, down 5.1% from December 2023.
Westchester County consistently leads the market with the highest median sale prices, peaking at $1,031,500 in June 2024 before settling at $860,000 in March 2025.
The event is geared toward real estate professionals, landlords and community advocates and will include identifying sources of income discrimination.
In his new role, Irace will focus on cultivating strategic partnerships, recruiting new investment to the region, and promoting development opportunities.
The purchaser, Larry Regan of Regan Development Corporation, will be developing the site with a three-story building consisting of 12 units of affordable housing with covered parking.
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