The median price of a single-family home in Westchester rose to $999,000 in May, up 2% from a year ago, underscoring just how resilient demand remains.
The median existing-home price for all housing types was up 1.3% to $422,800 from one year ago ($417,200).
Each speaker shared valuable perspectives on regional economic development, market dynamics, and strategic growth initiatives across the Hudson Valley.
The Midwest, South and West experienced month-over-month gains in transactions, while the Northeast decreased.
WASHINGTON—Pending home sales gained 2.2% in November—the fourth consecutive month of increases and the highest level since February 2023, according to data released today (Dec. 30) by the National Association of Realtors.
The Midwest, South and West experienced month-over-month gains in transactions, while the Northeast decreased. Year-over-year, contract signings increased in all four U.S. regions, with the West leading the pack.
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—advanced 2.2% to 79.0 in November. Year-over-year, pending transactions improved 6.9%. An index of 100 is equal to the level of contract activity in 2001.
“Consumers appeared to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory,” said NAR Chief Economist Lawrence Yun. “Mortgage rates have averaged above 6% for the past 24 months. Buyers are no longer waiting for or expecting mortgage rates to fall substantially. Furthermore, buyers are in a better position to negotiate as the market shifts away from a seller’s market.”
The Northeast PHSI fell 1.3% from last month to 67.8, up 5.6% from November 2023. The Midwest index increased 0.4% to 78.1 in November, up 1.6% from the previous year.
The South PHSI improved 5.2% to 94.5 in November, up 8.5% from a year ago. The West index rose by 0.5% from the prior month to 64.3, up 11.8% from November 2023.
“It appears that some markets will outperform, driven primarily by local job gains and the flow of new inventory supply,” Yun explained.
The median price of a single-family home in Westchester rose to $999,000 in May, up 2% from a year ago, underscoring just how resilient demand remains.
The median existing-home price for all housing types was up 1.3% to $422,800 from one year ago ($417,200).
The Federal Circuit’s decision underscores the rights of property owners to pursue compensation claims arising from the CDC eviction moratorium.
There are some exciting opportunities and we are seeing these projects come across our desks in a way that we have never seen before. So, we are getting the at-bats and we are taking a swing.
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