In connection with Wishnie’s retirement, County Executive Jenkins announced that current Director of Operations Joan McDonald has been promoted to Deputy County Executive.
2025 was another tough year for homebuyers, marked by record-high home prices and historically low home sales.
The governor emphasized the continued strain rising costs place on households and positioned housing production, regulatory reform and tenant protections as central tools to address those pressures.
2025 was another tough year for homebuyers, marked by record-high home prices and historically low home sales.
Homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023.
Pending sales, especially the 5% jump across all property types, show buyers gaining confidence.
Wage growth is outpacing home price gains, which improves housing affordability. Still, future affordability could be hampered if housing supply fails to keep pace with demand.
Job gains in September, following the data blackout, are reassuring and suggest the economy is not slipping into a recession.
Year-over-year sales rose in the Northeast, Midwest and South, and decreased in the West.
Real estate firms are on the frontlines of the industry and are seeing firsthand how housing affordability and local economic conditions are impacting their clients.
Market conditions remain constrained, with overall inventory down 5.6% from the previous year.
“Next year is really the year that we will see a measurable increase in sales,” Yun said
“Home sales have struggled to gain traction, but prices continue to rise, contributing to record-high housing wealth,” said NAR Chief Economist Lawrence Yun.
New York recorded the lowest turnover rate among the top 50 metros, with only around 10 out of every 1,000 homes selling in the first nine months of the year.
The share of first-time buyers in the market has contracted by 50% since 2007—right before the Great Recession. The implications for the housing market are staggering.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
