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New York State housing market grows in first half of 2015; sales, selling price, and pending sales climb
The New York State housing market posted healthy gains in nearly all categories including sales, median selling price and pending sales during the first half of 2015, according to the housing market report released today by the New York State Association of REALTORS. Closed sales were up 3.4 percent in the first six months of 2015 compared to the same period last year, while the median sales price increased 3 percent and the number of pending sales jumped more than 12 percent.
Empire State homebuyers drive May sales price growth
The New York statewide median home selling price reached $226,500 in May, an increase of 6.2 percent compared to last May, according to the housing market report released today by the New York State Association of REALTORS. May closed sales declined by 2.6 percent compared to May 2014.
NYCEDC, Lower East Side BID Recognize the 75th Anniversary of the Historic Essex Street Market on Manhattan’s Lower East Side
Today’s giant block party marked the end of a month-long series of events showcasing the Market vendors and the rich history of one of the city’s premier cultural destinations. Currently, the Market boasts a wide range of culinary products from a diverse array of vendors, including bakers, chocolatiers, meat purveyors, grocers, restaurateurs and others.
Households Remain Optimistic about Housing Market; Most Renters Want to Own
The Federal Reserve Bank of New York today released results from its 2015 SCE Housing Survey. The findings reveal that home price growth expectations were largely unchanged from last year’s survey, with households, on average, expecting a 4.4 percent growth in home prices over the next year.
Delinquencies, Foreclosures and Bankruptcies Improve as Household Debt Stays Flat
The Federal Reserve Bank of New York’s Household Debt and Credit Report revealed that aggregate household debt balances were largely flat in the first quarter of 2015. As of the end of March, total household indebtedness was $11.85 trillion, a $24 billion, or 0.2 percent, increase during the first quarter of this year. The report is based on data from the New York Fed’s Consumer Credit Panel, a nationally representative sample drawn from anonymized Equifax credit data.
Strong March sales drive New York State housing market first quarter gains
The more than 5-percent increase in home sales in March helped the New York State housing market post first quarter gains, according to the housing market report released today by the New York State Association of REALTORS. Closed sales were up 1.6 percent in the 2015 first quarter compared to the same period in 2014, while the median price climbed by 2.2 percent.
Consumers’ Expectations Rebounded in March
Results from the March 2015 Survey of Consumer Expectations suggest that expectations have rebounded compared to last month. In particular, after a marked decline in February, expectations about home prices, earnings growth and household spending returned to levels that prevailed during the second half of 2014.
New York Fed Provides Look at Regional Household Debt and Credit
The Federal Reserve Bank of New York today launched a series of reports detailing trends in borrowing and indebtedness at the state and local level. The Regional Household Debt and Credit Snapshot includes data about mortgages, student loans, credit cards, auto loans and delinquencies for New York City and its boroughs, as well as various metro areas in New York State, northern New Jersey and western Connecticut. There are a total of 27 Snapshots.
In Capital Region: More Than 107,000 Homeowners Will Receive Average $882 in Annual Direct Tax Relief
Governor Andrew M. Cuomo today detailed projected savings for New York taxpayers as a result of the Property Tax Relief program, which provides 1.3 million homeowners significant financial relief. The $1.66 billion program, which also includes a renters' credit, is part of the Governor's 2015 Opportunity Agenda.
New York State sales, median price rise in February
Despite being one of the coldest Februarys in history, the New York State housing market notched gains in both closed sales (2.5 percent) and median sales price (1.3 percent) compared to last February, according to the housing market report released today by the New York State Association of REALTORS.
Bronx Apartment Building Workers Ratify New 4-Year Contract
Bronx Residential workers overwhelmingly ratified a new 4-year contract tonight that will give them a $64.75 per week raise over the next 4 years and maintain the health care and retirement benefits for over 3,500 residential workers. Their new contract also includes an employer 401k contribution of five dollars per week starting in the second year of the contract
Report: 5,484 Units of Affordable Housing At Risk If Tax Abatement Is Eliminated
"Without 421-a, our housing crisis will take an immediate turn for the worse."
Consumers Expect Lower Home Price Growth, Mixed Labor Market
Results from the February 2015 Survey of Consumer Expectations (SCE) paint a multifaceted picture of the direction of the US economy. Median consumer inflation expectations at the short term horizon declined slightly to 2.8 percent, but remained stable at the three-year horizon. Both home price expectations and household spending change expectations fell to their lowest levels since the inception of the survey in June 2013
NYS median home sales price holds steady in April
Albany, NY - May 22, 2014 - (RealEstateRama) -- The New York State median home sales price held steady in April at $215,000 compared to April 2013, while the number of closed sales fell by more than 11 percent compared to a year ago, according to the housing market report released today by the New York State Association of REALTORS. Sales dropped 1.8 percent compared to the start of 2013
Empire State median sales price continues to climb as home sales dip in first quarter
Albany, NY - April 22, 2014 - (RealEstateRama) -- The New York State median sales price grew by 5.1 percent in the 2014 first quarter compared to a year ago, continuing its upward trend, according to the housing market report released today by the New York State Association of REALTORS. Sales dropped 1.8 percent compared to the start of 2013.
Wintry weather fails to quell demand for homes
Albany, NY - February 21, 2014 - (RealEstateRama) -- The New York State housing market started 2014 on solid footing with closed and pending sales falling minimally from the significant gains posted in January 2013, according to the housing market report released today by the New York State Association of REALTORS. The statewide median sales price continued to grow as it did throughout 2013, posting a 10.1-percent increase compared to last January
Governor Cuomo Outlines Proposal to Cut Property Taxes on Long Island
Albany, NY - February 20, 2014 - (RealEstateRama) -- Governor Andrew M. Cuomo today detailed his proposal to cut taxes for residents and businesses during a visit to Nassau Community College in Nassau County. As part of the Governor’s 2014-15 Executive Budget, the proposal continues the fiscal discipline of the past three years by holding spending increases to below two percent, while also reducing taxes by more than $2 billion by 2016-17
Empire State housing market momentum continues into November
Albany, NY - December 19, 2013 - (RealEstateRama) -- The Empire State’s November housing market posted a 4.8-percent increase in closed sales compared to a year ago, according to the housing market report released today by the New York State Association of REALTORS. The strong buyer activity also drove a 9-percent growth in the median sales price compared to November 2012
New York Fed Report Shows Household Debt Rises in Third Quarter
NEW YORK, NY - November 14, 2013 - (RealEstateRama) -- In its latest Household Debt and Credit Report, the Federal Reserve Bank of New York announced that outstanding household debt increased $127 billion from the previous quarter, the largest increase since the first quarter of 2008. The increase was due to rises in mortgage balances ($56 billion), student loans ($33 billion), auto loans ($31 billion) and credit card debt ($4 billion). The Quarterly Report is based on data from the New York Fed’s Consumer Credit Panel, a nationally representative sample drawn from anonymized Equifax credit data
Empire State third quarter home sales jump 17 percent
New York, NY - October 21, 2013 - (RealEstateRama) -- Motivated homebuyers dominated the Empire State’s summer housing market, powering 17.4-percent jumps in both statewide closed sales and pending sales during the third quarter, according to the housing market report released today by the New York State Association of REALTORS®. The state median sales price increased by 5.4 percent statewide.