Found 3 blog entries tagged as Housing Market.

A ‘Mamdani Migration’ to Westchester County?

There’s been a surge of media hype around the idea that residents of New York City might flee following Zohran Mamdani’s victory. The speculation hasn’t just pointed to far-away destinations like Florida or the Carolinas, but also to nearby suburban hubs such as Westchester County, which could become an appealing landing zone for households looking to exit the city while remaining in the broader metro area. I looked into the polls that the media has been citing, and here’s what I found:

  • Victory Insights Poll (10/22 - 10/23)

    500 very likely NYC voters:

    • 26.5% would consider leaving NYC if Mamdani won.

    • 68.4% would stay.

    • …

426 Views, 0 Comments

Read Full Post

Is The Housing Market Really Stabilizing?

One of the ways to measure the balance between supply and demand in real estate is to use the ‘Months Inventory of Homes for Sale’ metric. It represents the number of months it would take to sell all the homes currently on the market if no new homes were listed.

NAR, KCM Months' Supply of Homes for Sale

National: Months’ Supply of Homes for Sale

National View: Inventory is starting to grow, a sign that the market could be starting to balance out. Month’s supply was at 4.0 for July. According to Lawrence Yun, the Chief Economist at the National Association of REALTORS, said this week, “Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and…

411 Views, 0 Comments

Read Full Post

Luxury Home Prices Spike 9% to All-Time High

According to Redfin, luxury home prices in the U.S. have soared to a record $1.18 million, an 8.8% increase from last year and the largest in nearly two years. Luxury homes, defined as the top 5% in market value of their metro area, are in high demand with limited supply. In contrast, non-luxury home prices rose 3.8% to $342,500. Key findings from the report include:

  • Inventory: Luxury inventory rose 9.7%, marking the 4th consecutive quarter of growth, yet still below pre-pandemic levels.

  • Cash Purchases: This spring, 43.7% of luxury homes were bought with all cash, a slight increase from 43.2% during the same period last year.

  • Days on Market: Luxury homes remained…

472 Views, 0 Comments

Read Full Post