With the full legislature and governor facing re-election in 2026, HGAR and NYSAR are already preparing for what could be a watershed year for housing policy.
The NYC Rent Guidelines Board voted to approve rent increases of 3% for one-year leases and 4.5% for two-year leases on rent-stabilized apartments.
NAR successfully secured its top five priorities in the final package.
Research by Pattern for Progress indicates that taxes alone in Connecticut and Pennsylvania are 20% to 40% lower than in New York, and 50% to 80% lower in the Carolinas and Florida.
Under practice changes that will take effect Aug. 17, real estate professionals will no longer be able to communicate offers of compensation in the MLS.
Developer AMS Acquisitions received preliminary approval of financial incentives totaling approximately $11.6 million in sales and mortgage tax exemptions for a multi-phase $306.7-million, mixed-use development.
“The impact of escalating interest rates throughout April dampened home buying, even with more inventory in the market,” said Lawrence Yun.
The Mid-Hudson Momentum Fund is focused on mixed-use housing and essential infrastructure projects that directly support housing growth in the Mid-Hudson Region.
New York Gov. Kathy Hochul announced on May 28 that federal assistance is available to New Yorkers in Ontario, Orange, and contiguous counties who were impacted by last year’s early July flood event.
The City of Port Jervis was named the Mid-Hudson region winner of the sixth round of the Downtown Revitalization Initiative in 2023.
The $44-million, four-story building has 60 energy-efficient, affordable apartments for seniors and is expected to open in July.
The Orange County Partnership reported that the two leases will facilitate a combined more than 300,000 square feet of new development at the airport.
“Home sales changed little overall, but the upper-end market is experiencing a sizable gain due to more supply coming onto the market,” said NAR Chief Economist Lawrence Yun.
New listings of single-family homes rose in the Bronx, Westchester, Putnam, and Orange counties, while pending sales for all property types increased in every region except Rockland and Orange counties.
This dispute could have far-reaching implications beyond the real estate industry, as the split-decision ruling from the Circuit Court conflicts with the existing precedent of both the D.C. Circuit Court and the U.S. Supreme Court.
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