Currently, localities must conduct a survey of rental housing they propose to regulate and demonstrate that the vacancy rate is below 5%. This bill leaves that option in place, but creates an alternative method.
HGAR strongly opposes Good Cause Eviction, arguing it limits landlords' ability to manage properties. Automatic lease renewals, rent restrictions, and legal hurdles could discourage investment, shrink rental inventory, and raise costs for both landlords and tenants.
According to the unofficial election results from the Westchester County Board of Elections, Jenkins garnered 64% (57,590 votes) to Sculti’s 36% (32,956 votes) with 100% of the votes counted.
ALBANY—As 2023 ended, inventory of homes across the Empire State fell to the lowest recorded mark in history, according to the housing report released recently by the New York State Association of Realtors.
Inventory of homes for sale across New York State dropped to an all-time record low of 24,469 units in December 2023. This represents a 17.8% decline in the 29,768 homes available in December 2022.
Prices continued to rise to close out 2023, with the median sales price of homes in New York State rising 10.1% to $380,000 last month, up from $345,000 in December 2022. This marks the fifth consecutive month of rising median sales prices, NYSAR officials reported.
Interest rates have started to come down in month-over-month comparisons. According to Freddie Mac, the average on a 30-year fixed-rate mortgage dropped from 7.44% in November 2023 to 6.82% in December. For comparison, a year ago at this time, the interest rate stood at 6.36%.
New listings and pending sales both rose slightly in December. New listings of homes were up 0.4% in year-over-year comparisons from 5,769 units in December 2022 to 5,791 homes last month.
Pending sales inched up 0.7% from 6,483 units in 2022 to 6,528 homes in December 2023. Closed sales, however, did fall, dropping 12.6% from 9,855 sales in December 2022 to only 8,611 homes to close out 2023.
Currently, localities must conduct a survey of rental housing they propose to regulate and demonstrate that the vacancy rate is below 5%. This bill leaves that option in place, but creates an alternative method.
HGAR strongly opposes Good Cause Eviction, arguing it limits landlords' ability to manage properties. Automatic lease renewals, rent restrictions, and legal hurdles could discourage investment, shrink rental inventory, and raise costs for both landlords and tenants.
According to the unofficial election results from the Westchester County Board of Elections, Jenkins garnered 64% (57,590 votes) to Sculti’s 36% (32,956 votes) with 100% of the votes counted.
The 20-year Riverdale resident got his real estate license in 2014 and began working with a local brokerage. After just three years, he decided to branch out on his own.
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