Found 7 blog entries tagged as Demand.

The Westchester Market: From Hot to Healthy?

Real Estate Market Hotness: Westchester County, NY

The latest Market Hotness Rank from Realtor.com® and the Federal Reserve Bank of St. Louis (FRED) shows that Westchester County’s housing market could be transitioning toward a more balanced pace after two years of intense competition. The rank measures how “hot” an area’s market is compared to all U.S. counties — with 1 representing the hottest and 1,612 the coolest in the nation.

Westchester’s Market Hotness Rank so far in 2025:

  • January (Rank 636): Soft start to the year following late-2024 cooldown.

  • March (Rank 360): ???? Peak Spring demand.

  • June (Rank 590): Early signs of the summer slowdown.

  • August (Rank 851): ❄️…

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Nearly 60% of Renters Plan to Buy a Home

The Realtor.com August 2025 Rental Report shows that U.S. rents have fallen for 25 consecutive months, with the median asking rent across the 50 largest metros at $1,713, down 2.2% year-over-year. While rents remain 17% higher than pre-pandemic levels, they are still 2.6% below their August 2022 peak. Nearly 60% of renters still plan to buy homes, with half expecting to purchase within one to two years.

  • Rent growth is below the 2017–2019 average of 3.3%, showing a cooling market.

  • Rents declined across all unit sizes:

    • Studios: $1,430, ↓ 1.7%

    • 1-bedrooms $1,593, ↓ 2.1%

    • 2-bedrooms $1,897, ↓ 2.2%

  • …

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Post-Pandemic Shift: Rates Now Drive Buyer Behavior

In recent months, mortgage rates have slipped from 7.04% in January to around 6.30%, sparking renewed discussion about whether lower borrowing costs will unlock more demand. ResiClub’s 25-year analysis reveals wide swings in buyer sensitivity to mortgage rates, depending on the housing cycle. In some periods, demographics and credit standards mattered more. In others, rates barely moved the needle. But in the current post-pandemic cycle, mortgage rates have emerged as the dominant force shaping demand.

  • Early 2000s (2000–2004): Falling rates fueled the housing bubble

  • Housing bust (2005–2009): Demand collapsed despite lower rates

  • …

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It’s Getting Easier to Qualify for a Mortgage

The Mortgage Credit Availability Index is rising, meaning more people are able to secure financing for a home loan – even with lower credit scores or smaller down payments. In fact, it’s easier to get a loan now than it’s been in almost three years. Lenders are trying to boost activity in the housing market, and that gives you an opportunity. You may qualify today, even if you didn’t a few months ago.

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Real Estate Heatwave: 9% Spike in Mortgage Applications

Last week, I highlighted the recent dip in mortgage rates as we headed into the summer market. This week, the Mortgage Bankers Association (MBA) confirmed what we suspected: even a modest drop is already making waves (how’s that for a summer pun?). Their latest report shows purchase applications jumped 9% — putting them 25% higher than this time last year. Here are a few more key takeaways:

  • The 30-year fixed rate dipped last week to 6.77%, the lowest in 3 months.

  • Purchase applications increased to their highest level since 2/2023.

  • Refinance applications rose 9% weekly and were up 56% YOY.

  • Pending home sales hit…

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The Top Price Ranges Driving Westchester’s Real Estate Market

The chart above provides a breakdown of property showings by price range for homes listed under $2 million in Westchester County, from January 1st to March 15th. It highlights which price segments that are attracting the most buyer interest, showing trends in demand based on the number of showings per listing. Key findings:

Most Active Price Ranges:

  1. $600K – $699K: The lead in every category, representing 12.19% of all showings.

  2. $700K – $799K: Placed second in all categories except showings per listing (10th)

  3. $1.6M – $1.69M: Second in showings per listing (21.24), despite overall low volume.

Ralph’s Take

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Early Signs Buyer Demand Is Picking Up

More buyers are jumping back into the market – and that means it may be time for you to do the same thing. Mortgage applications are up, demand is growing, and home showings are increasing. Those are signs that serious buyers are active today.

If the right buyer walked through your door tomorrow, would you be ready?

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