Nysar Press Release Feed

January 2010 New York State home sales up 11 percent from year ago

By NySAR — Fri, 26 Feb 2010 00:00:00 GMT

Albany – February 26, 2010 – The New York state housing market posted an improved start to 2010 compared to the beginning of last year with sales increasing by 11 percent compared to January 2009, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price jumped more than 30 percent compared to January 2009.

“We are encouraged by the improved start to the 2010 housing market,” said Duncan R. MacKenzie, NYSAR chief executive officer. “Despite the fall off from a very strong December market, the 11-percent increase in sales from last January and the median price gain are good signs for the continued recovery of our housing market into 2010.”

MacKenzie noted that the flurry of buyer activity in October and November as the previous federal tax credit deadline approached likely drove the market higher in December. “Once the deadline pressure was released by the extension and expansion of federal homebuyer tax credit, many of those buyers became homeowners in December and January,” MacKenzie said...

New York State REALTORS team with Syracuse Habitat for Humanity to help finish ‘home in a box’ build

By NySAR — Sat, 20 Feb 2010 00:00:00 GMT

New York State REALTORS team with Syracuse Habitat for Humanity to help finish ‘home in a box’ build

Governor’s cuts to MTA payroll tax do not go far enough

By NySAR — Thu, 11 Feb 2010 00:00:00 GMT

Statement from New York State Association of REALTORS President Hank W. Fries

Albany – Feb. 10, 2010 – Gov. David A. Paterson’s proposed cuts to the Metropolitan Commuter Transportation Mobility Tax in his 21-day budget amendments are inadequate and New York’s 54,000 REALTORS strongly oppose shifting the cost to workers and businesses from one part of the MTA region to another. Nothing short of a complete repeal of the tax makes any sense in these difficult economic times.

It is little more than a shell game to reduce the tax for a portion of the MTA service area and then nearly double it for all businesses, including independent contractors like REALTORS, operating in New York City. Governor Paterson is missing a key opportunity to demand meaningful reforms that result in long-term MTA cost containment. Instead, he continues to rely upon the taxpayer to bail out the MTA, which is widely regarded as a thriftless.

New York’s REALTORS continue to strongly oppose this tax...

New York housing market finishes strong in ’09 fueled by solid second half

By NySAR — Mon, 25 Jan 2010 00:00:00 GMT

Albany – January 25, 2010 – Fueled by a recovery in the second half of the year, statewide sales of existing single-family homes in New York State rebounded from a double-digit deficit in the first half of the year to finish only 3.2-percent behind the 2008 total. According to preliminary existing single-family sales data accumulated by the New York State Association of REALTORS, 77,176 homes were sold statewide during 2009.

“As 2009 progressed, the combination of the federal first-time homebuyer tax credit, historically low mortgage rates and moderating prices resulted in New Yorkers gaining confidence about it being a good time to buy a home in the Empire State,” said Duncan R. MacKenzie, NYSAR chief executive officer. “In the first half of 2009 many would be buyers remained on the sidelines due to reports of the so-called ‘national’ housing market collapse and the overarching economic uncertainty.”

“Once New Yorkers came to understand that all housing markets are local and that their local market could not be painted with the same brush as severely depressed markets in other locales, there was a renewed interest in ..."

New York statewide November home sales up 34 percent compared to November 2008

By NySAR — Tue, 22 Dec 2009 00:00:00 GMT

Albany – Dec. 22, 2009 – Statewide sales of existing single-family homes in New York State jumped 34 percent in November 2009, compared to November 2008, according to preliminary existing single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price rose by 3 percent compared to November 2008.

“While the jump in sales compared to last November is obviously a positive sign for the state housing market, the 5.5-percent increase compared to 2007 indicates a return to a typical November sales level,” said Duncan R. MacKenzie, NYSAR chief executive officer. “This is a strong indicator of the continued recovery of the statewide housing market.”

“The federal first-time homebuyer tax credit continues to drive our housing market,” said MacKenzie. “We anticipate the tax credit extension and expansion to include repeat buyers will continue to aid the recovery of the New York State housing market into next year, particularly in the spring.”

New York home sales up nearly 8 percent in October

By NySAR — Mon, 23 Nov 2009 00:00:00 GMT

Albany – Nov. 23, 2009 – Driven by buyers wanting to close before the anticipated first-time homebuyer tax credit deadline, October sales jumped nearly 8 percent from the previous month and nearly 6 percent compared to October 2008, according to preliminary existing single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price rose by more than 2 percent between September and October.

“There is no question that the federal first-time homebuyer tax credit has been a significant driver of home sales in New York State since its inception,” said Duncan R. MacKenzie, NYSAR chief executive officer. “New York’s REALTORS are grateful that our Congressional delegation understood this and forwarded legislation to extend and expand the tax credit to President Barack Obama, who signed it into law.”

“REALTORS know that the tax credit has helped to revitalize the housing market and position it to once again lead our economic recovery,” said MacKenzie. “The extension of the first-time buyer credit and the creation of a tax credit for existing homeowners who purchase their next home will allow both the housing market and our economy to hold on to the gains that have been made in recent months.”

Third quarter NY statewide sales jump 31 percent

By NySAR — Fri, 23 Oct 2009 00:00:00 GMT

Albany – Oct. 23, 2009 – Driven by solid July and August sales, the New York State housing market posted more than 31 percent growth in the third quarter compared to the second quarter, according to preliminary existing single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price grew in the third quarter by nearly 11 percent compared to the second quarter.

“New York’s strong third quarter provides clear evidence of the need for an extension of the federal first-time homebuyer’s $8,000 tax credit,” said Duncan R. MacKenzie, NYSAR chief executive officer. “From the inception of the tax credit, interest from first-time buyers across the state has increased. When coupled with favorable interest rates and pricing, many families and individuals discovered that 2009 was the right time to buy.”

“Although the credit legally expires on Nov. 30, the reality is that the window of opportunity is effectively closed for most prospective buyers who have not yet gone to contract on a home,” said MacKenzie. “It generally takes between 45 and 60 days to go from contract to closing.”

New York’s REALTORS applaud governor’s plan to address budget deficit

By NySAR — Wed, 21 Oct 2009 00:00:00 GMT

Statement from New York State Association of REALTORS President Daniel J. Hartnett

Albany – Oct. 21, 2009 – New York’s 56,000 REALTORS today applaud Gov. David A. Paterson for taking the first steps in addressing the impending $3 billion state budget deficit.

We appreciate and support the governor’s pledge to tackle this deficit without increasing New York’s nation-leading tax burden. The Empire State cannot regain its former status as an economic leader among states until it addresses its overbearing tax burden.

New York State’s problem is not spending too little. Rather, New York taxes too much in a vain effort to support unsustainable spending. The cumulative effect of New York State’s reckless spending has forced many of its residents and business to seek more tax friendly states.

NY housing market stays on track in August

By NySAR — Thu, 24 Sep 2009 00:00:00 GMT

The New York State housing market posted a solid monthly sales total in August despite falling slightly below the July 2009 level and ending five consecutive months of growth, according to preliminary existing single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price grew in August compared to the revised July median.

“New York’s housing market continues to maintain a strong sales pace, helped in part by the $8,000 federal first-time homebuyer credit, as evidenced by the August total,” said Duncan R. MacKenzie, NYSAR chief executive officer. “We believe the slight decrease in sales is not an indicator of any change in the overall health of the New York housing market, and we anticipate the market will remain active into the early fall.”

“The growth New York’s housing market has experienced since March is the best proof that our lawmakers in Washington should extend the tax credit, which is due to expire on November 30,” said MacKenzie. “Congress has an opportunity to keep the housing and economic recovery going by making the tax credit available to more homebuyers. Housing has always been a primary driver of the Empire State’s economy and this action would help ensure it is positioned to lead the recovery.”

New York State REALTORS team with Syracuse Habitat for Humanity for ‘home in a box’ build

By NySAR — Mon, 14 Sep 2009 00:00:00 GMT

As part of its ongoing efforts to foster homeownership opportunities throughout the state, the New York State Association of REALTORS is partnering with the Syracuse Affiliate of Habitat for Humanity this week to build the frame for a home that will later be completed in Syracuse.

REALTOR volunteers will “pre-build” the frame of the home between Sunday, September 13, and Tuesday, September 15 in the parking lot of Roohan Realty at 519 Broadway, Saratoga Springs, NY. During a “Home in a Box” build, the house is tacked together to ensure a rock-solid fit, then the frame is taken apart and the components will be shipped to the 229 Elliot St., Syracuse location for completion.

“New York’s REALTORS care about their communities and are committed to supporting homeownership opportunities through a variety of programs,” said NYSAR President Daniel J. Hartnett. “Habitat for Humanity has a long history of fostering homeownership opportunities, and we are proud to be able to spearhead this effort to provide a home to a family in my hometown of Syracuse.”