News
Mortgage Applications Fall to Lowest Level Since May
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) decreased to 6.83% from 6.84%.
BREAKING NEWS: Construction Begins on $330M NYPA Headquarters in Downtown White Plains After Trades Agreement Reached
Cappelli estimated that with the NYPA project, the total Hamilton Green development cost will be approximately $900 million.
NAR: Pending Home Sales in Northeast Rose 2.1% in June, Defying National Trend
Pending sales in the Northeast increased incrementally even though home price growth in the region has been the strongest in the country.
Federal Court Upholds New York State’s Gas Ban Law
The court also ruled that New York’s prohibition on the installation of fossil-fuel equipment does not concern the “energy use” of covered products as defined by EPCA and is therefore not preempted.
North Castle Seeks Developers for Possible Town Hall Project
If the Town Hall renovation and expansion project moves forward, the town would interview bid respondents in September and October and possibly issue a formal Request for Proposals in November of this year.
HGAR June 2025 Housing Report: Prices Hit New Highs as Market Navigates Inventory Shifts
Market dynamics continue to reflect high competition at the entry level and slower movement in the luxury tier.
OneKey MLS: NYC Regional Home Sales Fell 6% in June as Markets Faced Ongoing Inventory Constraints
Closed sales for all properties edged down 6.0% year-over-year to 3,972 transactions, with single-family home closings down 4.6%.
NAR: Existing-Home Sales Fell 2.7% in June; Northeast Sales Dropped 8% Last Month
More supply is needed to increase the share of first-time homebuyers in the coming years even though some markets appear to have a temporary oversupply at the moment.
NAR’s Yun Predicts 14% Home Sales Increase in 2026
Yun predicted that existing home sales would rise approximately 3% this year, but jump 14% higher in 2025.
Construction Begins on $85-Million Newburgh South Logistics Center Project
Neuhaus, who is a graduate of Mount Saint Mary in Newburgh, noted the long-standing issues with the property, saying, “The obituary for this site was written decades ago. You are bringing this place back to life.”
NAR Prevails in Homie Litigation
In a July 15 ruling, District Court Judge Dale Kimball wrote that Homie had failed to show that NAR and large brokerage companies named in the suit—Anywhere Real Estate, HomeServices of America, and RE/MAX—had conspired to cause antitrust injury to the company.
Higher Rates Cause Mortgage Applications to Fall Sharply
Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy.