Mortgage rates notch new low

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Mortgage rates notch new low
The average rate for a 30-year fixed-rate mortgage dropped .07 percentage points for the week ending Sept. 10, reaching 2.86 percent — anew low since Freddie Mac began conducting the survey in 1971. This time last year, the mortgage rates averaged 3.56 percent. Fifteen-year mortgages declined, too, to an average of 2.37, while five-year mortgages were up 18 percentage points to 3.11.

Sam Khater, Freddie Mac’s chief economist, said a late summer slowdown in the economic recovery was to thank ...

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Are there 15,000 people who want to live in Manhattan?

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Are there 15,000 people who want to live in Manhattan?

Manhattan’s vacancy rate climbed to 5.1 percent in August, according to Douglas Elliman’s monthly rental report produced by Miller Samuel Real Estate Appraisers & Consultants.

It’s the first time Manhattan vacancy has reached this level in the 14 years that Miller Samuel has tracked its rental market, and the fourth consecutive month that the number of uninhabited rentals have set a new record. 

The number of deals with concessions or owners paying the broker fee jumped to 59 percent last month from ...

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Home sales plunged across South Florida in Q2

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Home sales plunged across South Florida in Q2

Coronavirus took its toll on South Florida’s residential markets in the second quarter, with double-digit declines in Miami-Dade, Broward and Palm Beach counties.

Miami-Dade condo sales fared the worst, with sales dollar volume and closings falling by nearly half. Single-family home sales dropped by more than 30 percent in each county, year-over-year, according to the Miami Association of Realtors.

Luxury brokers have pointed to an increase in home sales in waterfront markets such as Miami Beach ...

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Manhattan is Cold, the Suburbs and Brooklyn are Hot! Here’s what the resi market looked like in July

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Manhattan is Cold, the Suburbs and Brooklyn are Hot! Here’s what the resi market looked like in July

In Manhattan, the drops were stunning. July contracts for co-ops priced between $4 million and $5 million were down 94 percent from the same month last year. No contracts were signed for condos above $20 million. Across all price brackets, condo and co-op contracts were down 56 percent.

But in Brooklyn — where New Yorkers often migrate to in search of bigger homes and more open space — the numbers surged: 178 new condo contracts in July, up from 147 last ...

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School’s back on. Will the NYC resi market follow suit?

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School’s back on. Will the NYC resi market follow suit?

As the city shut down this spring, New York’s wealthiest neighborhoods saw an exodus of residents, many of whom headed to second homes or rentals in the Hamptons and other parts of the Tri-State.

Now that Gov. Andrew Cuomo has given the go-ahead to reopen schools for in-person learning statewide, will those who fled return?

According to Petersheim who founded Hudson Valley-based development and real estate company Catskill Farms “The idea that they may shut down again really closes the door to ...

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Manhattan Rental Report: July 2020

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What’s going on in the Manhattan rental Market? Let’s take a look at July 2020 data…

With the withdrawal of some of the restrictions due to Covid-19 emergency, new rental activity surged month over month but still well below the year-ago levels.

The Number of New Leases (excluding renewals), went down – 23.4% ...

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