Palumbo is a graduate of HGAR’s Leadership Accelerator Program, a current HGAR and NYSAR Director, and has served as chair of HGAR’s Young Professionals Network.
The Yonkers store will total approximately 114,000 square feet and will feature 19 departments.
Despite being home to millions and some of the strongest local economies, Los Angeles, CA; Oxnard, CA; San Diego, CA; New York, NY and Spokane, WA are among the furthest from housing-supply balance.
For single-family homes, there were reportedly 2,591 closed sales transactions and 2,424 pending sales transactions in January, representing a 5.0% decrease in closed sales
Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
Black (26%) and Hispanic (22%) applicants experience higher denial rates for mortgage applications compared to their White (16%) and Asian (15%) counterparts,
Among the major U.S. regions, the South posted the largest share of single-family existing-home sales (45%) in the fourth quarter, with year-over-year price appreciation of 3.2%. Prices also climbed 7.3% in the Northeast, 4.7% in the Midwest and 4.2% in the West.
Closed sales transactions decreased 15.00% in December 2023 in a year-over-year comparison from 3,270 in December 2022 to 4,406 in December 2023.
“The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” said NAR Chief Economist Lawrence Yun.
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.
The inventory of unsold existing homes slumped 11.5% from the previous month to 1 million at the end of December, or the equivalent of 3.2 months’ supply at the current monthly sales pace.
Housing costs in New York City and the surrounding suburbs have grown more than 68% over the last decade, the largest increase among selected major metropolitan areas in the U.S.
The Northeast, Midwest and West posted monthly gains in transactions while the South recorded a loss. All four U.S. regions registered year-over-year declines in transactions.
WASHINGTON—Existing-home sales grew in November, breaking a streak of five consecutive monthly declines, according to data released on Dec.
NAR sees green shoots and predicts an improving market in 2024, with four rate cuts to calm inflation and settle mortgage rates near 6%.
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