New York State Realty's Blogs

Low housing inventory continued to slow the New York housing market and with interest rates still fluctuating near 6.5 percent, 2024 began much the same as 2023 ended in the Empire State, according to the housing report released today by the New York State Association of REALTORS®.

Interest rates moved marginally from December 2023 to January 2024 in month-over-month comparisons. According to Freddie Mac, the average on a 30-year fixed-rate mortgage dropped from 6.82 percent in December to 6.64...

The terms "seller's market" and "buyer's market" generally reflect which side of the real estate transaction has the upper hand when it comes to negotiating. While sometimes the entire nation can experience one type of market or the other, it's more common for market conditions to be tied to a region, a town or even a neighborhood.

Multiple factors can influence housing markets including the local job market, new construction that offers more options for homebuyers, the reputation of various sc...

 

  This year has barely begun, and it already seems destined for the history books. The next 11 months are jam-packed with a combative presidential election, two large wars abroad, a string of high-profile companies announcing layoffs, and fears over whether the U.S. Federal Reserve will be able to guide the U.S. economy to a soft landing. How each of these concerns plays out this year will ultimately affect the fate of the housing market, which had largely been frozen last year due to high ho...

A new survey from Zillow finds the football player Americans most want to be next-door neighbors with is Travis Kelce, the Kansas City Chiefs tight end who is in a relationship with Taylor Swift. Kelce (12%) topped the list of professional football players, beating out his teammate Patrick Mahomes (11%) and Odell Beckham Jr. (7%), wide receiver for the Chiefs' AFC Championship Game opponent, the Baltimore Ravens.

Kelce was the overwhelming favorite among 18- to 34-year-old women, 26% of whom sel...

Study by the American National Association of Realtors says drone photos, videos and virtual tours all boost inquiries.

Aerial real estate photography is one of three key ways professionals can add value to property sales and so boost inquiries and speed up sales, according to a study by industry data.

The key stats shared by Ruby Home, a specialist in luxury real estate, are that professional photography in general speeds sales by 32%, while aerial photos make that 68% faster.

  Even a modes...

NEW YORK (WWTI) — $30 million in supportive housing funding has been awarded to serve older adults, survivors of domestic and gender-based violence, veterans and chronically homeless families, and individuals with a mental illness or substance use disorder.

The State Office of Mental Health Administered funding through the Empire State Supportive Housing which resulted in 122 awards, which will serve up to 4,839 units of supportive housing.

The Empire State Supportive Housing Initiative, since i...