Part of the delay in recovery is because the Federal Reserve has changed its outlook and appears to be on pause for a longer period.
NAR remains committed to advocating for provisions that expand opportunity, support homeownership, strengthen communities nationwide, and put the American dream within reach for more families.
“Home sales are increasing throughout our region as a result of more properties being listed for sale, reflecting the strong demand that currently exists in the Hudson Valley,” said HGAR CEO Lynda Fernandez.
Existing-home sales in the Northeast in July climbed 4.3% from June to an annual rate of 490,000, an increase of 2.1% from July 2023.
“We should have more inventory. There absolutely should be more inventory than there is right now.”
The Hudson Gateway Association of Realtors has established a one-stop location for members to get the latest tools, forms and information on the NAR settlement and the practice changes dictated by the settlement reached in March of this year.
Since November 2023, Wright shepherded the association in early 2024 through negotiations that led to a $418-million settlement to resolve claims brought on behalf of home sellers related to broker commissions
When we’re talking about what our challenges are in the industry—there’s inventory, there’s insurance and there’s inflation. Those are things that we do not have control over, but those are things we continue to educate people on.”
The listing broker or the seller may offer compensation to the buyer’s agent, but there are limitations to how that offer can be marketed—i.e., brokers can no longer communicate offers of compensation on an MLS.
“We are grateful to our many Realtor and Affiliate members who contribute their time, money and energy to the HG Realtor Foundation to make all this possible.”
Realtor.com has seen substantial improvement in inventory in the first half of 2024, climbing by more than 35% on a year-over-year basis.
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 scoreboard for the Mid-Hudson region is that a total of 39 municipalities have submitted letters of intent and 19 others have been certified as a “Pro-Housing Community.”
Most agents are practiced at communicating their value to sellers during a listing presentation. Be just as prepared when you talk with buyers.
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