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NYC Home-Buying Season Kicks Off with Strongest Start Since 2021
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New York City's real estate market is seeing a remarkable start to the fall home-buying season, driven by a recent dip in mortgage rates. In September, 1,676 homes went under contract, marking a 26.4% increase from last year. More sellers also entered the market, with new listings up by 7.1%.
10-18-2024 4 min read
Fed's Surprise Rate Cut Brings New Opportunities and Risks
In a move that caught many off guard, the Federal Reserve has made its first interest rate cut since 2020, slashing rates by 50 basis points. The new benchmark range now stands between 4.75% and 5%, signaling a more aggressive stance than many had anticipated...
10-01-2024 8 min read
NYC Rental Market: Rents Rise Amid Shifting Demand
In August 2024, New York City's rental market continued its upward trend, with median asking rents reaching $3,425, a 2.3% increase year-over-year. While rents for smaller units (0-2 bedrooms) surged by 4.2% to $3,367, larger units (3+ bedrooms) saw a decline of 5.0%, reflecting changing demand dynamics...
09-28-2024 4 min read
Fed Cuts Interest Rates, But Don’t Expect Home Prices to Drop
The Federal Reserve's recent decision to cut interest rates by half a percentage point may not lead to the immediate drop in home prices that many buyers have been waiting for. While the lower rates will reduce mortgage payments, housing prices are still influenced by other factors like limited availability...
09-23-2024 4 min read
Fed Rate Cut Sparks Optimism in the Real Estate Market After Four Years
The Federal Reserve’s recent 50 basis point rate cut has ignited excitement within the real estate industry, with many market leaders anticipating a resurgence in buying and selling activity. Real estate professionals, such as Shoma Group's CEO, Mousad Shojaee...
09-19-2024 8 min read
The Federal Reserve Announces a 0.5% Interest Rate Cut, the First Reduction in Four Years
On Wednesday Sept 18, the Federal Reserve announced its first interest rate cut since the early days of the COVID-19 pandemic, lowering the benchmark rate by 0.5% to prevent a slowdown in the labor market. With weakening employment data and inflation...
09-19-2024 12 min read
How the Fed's Interest Rate Cut Affects You and How to Optimize Your Personal Finances
The Federal Reserve's recent decision to lower interest rates for the first time in four years brings both opportunities and challenges for personal finances. Here’s what it means for you...
09-17-2024 10 min read
October 2024 Visa Bulletin Brings Progress for EB-5 Set-Aside Categories and Modest Advancements for Backlogged Countries
The U.S. Department of State has released its October 2024 Visa Bulletin, marking the start of the federal fiscal year 2025. The EB-5 visa categories, particularly those under the set-aside provisions...
09-16-2024 8 min read
Is It a Good Time to Buy a Property?
The real estate market is constantly shifting, and the current climate offers both opportunities and challenges for buyers. Recent decreases in interest rates have created a less competitive environment, giving buyers more negotiating power. However...
09-12-2024 6 min read
New York City Rents Grow Seven Times Faster than Wages, Deepening Affordability Crisis
In 2023, New York City saw rents rise at a rate seven times faster than wages, marking the largest gap among the 50 largest U.S. metro areas, according to a recent analysis by Zillow and StreetEasy. While the national trend showed wages...
09-12-2024 10 min read
National Housing Shortage Predicted to Persist with Gradual Price Growth Through 2029
The national housing shortage is expected to persist through the end of the 2020s, with builders facing challenges in finding land, labor, and materials to meet demand. Home prices, after significant growth in recent years, are forecasted to rise more...
09-10-2024 3 min read
Housing Market Predictions for 2025: What Analysts Expect for Home Prices
As we approach 2025, housing analysts forecast an average 2.5% increase in U.S. home prices for the year. Among major forecasters, Goldman Sachs is the most optimistic, predicting a 4.4% rise, while Moody’s projects a more modest 0.3% increase. Key factors...
09-09-2024 3 min read
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