New York State Realty's Blogs

Once again, housing inventory across New York State fell to another record low in March, according to the housing report released today by the New York State Association of REALTORS®.

Inventory of homes across the Empire State fell 14.7 percent in March – from 28,060 units in 2023 to a record-setting low of only 23,924 homes statewide. This marks the 13th consecutive month inventory has dropped in year-over-year comparisons and is the lowest number of homes for sale since statistics have been k...

Some homeowners are getting an unwelcome surprise in their mailboxes: New property assessments from their local tax offices that put a far higher value on their homes than prior to the pandemic. In some cases, that means an increase in their property taxes at a time when other costs, like food and fuel, are also surging.

There is some good news for homeowners, however. You can appeal your property assessment, and success means your tax bill could be lowered by hundreds to thousands of dollars. 

For the first time in 30 months, home sales increased in New York in February, while inventory dropped yet again to its lowest point in recorded history, according to the housing report released today by the New York State Association of REALTORS®.

Inventory of homes dropped 16.8 percent from 28,170 homes available in February 2023 to just 23,448 units last month. This marks the lowest number of homes for sale since statistics have been kept in New York State. This also marks the 12th consecutiv...

  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...

 

On July 18, 2023, Governor Hochul announced several executive actions to promote housinggrowth including:I. Declaring an Executive Order establishing priority in certain discretionary fundingprograms for localities across the state that comply with a new “Pro-HousingCommunity” certification process;II. Creating a program to advance residential projects halted by the expiration of 421-athat include affordable housing; limited to within the Gowanus rezoning area inBrooklyn;III. Requiring all state...

   

In Florida, hurricanes are expensive. That reality is well understood, as almost every year now, a major storm causes multiple millions of dollars (or even billions) in damages across the Sunshine State. And housing markets have adapted—successfully, it would seem, as the state continues to attract new residents from all over the world.

But with affordability a growing concern, another potentially much more serious problem has emerged that could pose an existential threat to the Flor...