News
NAR: U.S. Existing-Home Sales Rose 2.2% in December; Northeast Sales Climbed Nearly 4% Despite High Rates
U.S. Existing-Home Sales Rose 2.2% in December
New York City Kicks Off Public Review of Midtown South Rezoning Plan to Create Nearly 10,000 New Homes
The proposal would deliver an estimated 9,700 new homes—including up to 2,900 permanently income-restricted affordable homes.
New Study Once Again Dispels Myth that New Housing Development Fuels Increase in Student Enrollment
One of the report’s major findings is that new multifamily housing development has not resulted in spikes in student enrollment in impacted school districts.
Governor Hochul Proposes Ambitious Housing Agenda; Calls for $5B in Taxpayer Rebates, Credits to Foster Affordability
Gov. Hochul said the current limit of $10,000 on state and local taxes in New York State costs New Yorkers up to $12 billion a year.
New York State Comptroller Reports New York City Continues to Gray
In 2023, 39.5% of older homeowners in the city spent 30% or more of their household income on housing costs.
Gov. Hochul’s State of the State Address Focuses on Housing, Climate Change, Rail Improvement Funding
“The top driver of our affordability crisis is the rising cost of rent and mortgages, and New Yorkers need our help.”
Hudson Gateway Association of Realtors to Host Installation Gala for 2025 President, Board of Directors on Jan. 30
Incoming HGAR President Sejdi is an Associate Broker with HomeSmart Homes & Estates in White Plains. She served as President-Elect in 2024, Secretary in 2023, and Regional Director for Westchester County in 2022.
PULSE OF THE MARKET: Inventory and Rates Will Drive New York Area Market in 2025
Rates at 6% are the new normal, and from a historical perspective they’re completely fine, especially given the strength of the economy and inflation adjusted wage gains over the past few years.
Houlihan Lawrence Expects Home Sales, Prices to Grow at More Sustainable Pace in 2025
Inventory levels across many of the markets surveyed continue to contribute to a competitive landscape for buyers, driving median prices upward.
FDIC Signs Nearly 148,000-SF Lease in Midtown Manhattan
FDIC will relocate to 1166 Avenue of the Americas from the Empire State Building in a 10-year lease.
Midtown Bus Terminal Project Secures $1.9 Billion TIFIA Fed Loan
The TIFIA loan will support the funding of the first phase of the $10-billion bus terminal replacement project, with construction to begin this year.
In Memoriam: Longtime Realtor Martha Lowenfeld
Martha Eventually settled in Somers, becoming a Realtor where she found her stride, spending decades in the industry.