Chief among the reform measures included in the budget was disincentivizing institutional investors from buying up one- and two-family homes.
This draft language preserves or strengthens a raft of provisions vital to housing affordability.
In a third transaction, an existing 76-unit development completed about six years ago has a new owner.
Diaz said the rezoning and Penn Access project “will be a way for us to reimagine the whole area. We are going to end up being the paradigm of health care.”
“We should have more inventory. There absolutely should be more inventory than there is right now.”
Two market areas that make up the New York metro region—New York-Jersey City-White Plains, NY-NJ (No. 7) and Dutchess County-Putnam County, NY (No. 9)—ranked among the top 10 metro areas for price increases in the second quarter.
The new rules mean sellers still have the choice of offering compensation to buyer brokers, which can serve as a way of marketing the home or making the listing more attractive to buyers.
The Northeast PHSI rose 3.0% from last month to 65.5, a decline of 0.3% from June 2023.
Sales were down in all counties in the Hudson Gateway Association of Realtors market area, with Orange County posting the largest decline in single-family home sales at 26.9%.
“The struggle to create housing that is affordable for people across the entire spectrum of income will be the defining civic issue for this generation of leaders in the Hudson Valley,” Pattern CEO Adam Bosch said.
Data shows that from 1996-2021, the Hudson Valley region lost a net total of 146,763 people to out migration, which calculates out to 5% of the Hudson Valley’s population.
“2023 was a difficult year for Realtors due to high mortgage rates and low housing inventory, which significantly impacted home sales volume,”
The program offered the latest home sales data and trends for Rockland County, updates on the NAR Commission settlement, and perspectives on topical business and political issues.
Only Westchester saw a slight increase in closed sales for single-family homes, with a 4.6% gain.
The goal of the Summit was to build curiosity while exploring the understanding of diversity, equity, and inclusion within personal and professional careers.
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