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Sales of homes are up by 20% in September

According to the National Association of Realtors, only in September, the sale of homes has gone up by more than 20% from a year ago despite seeing a decrease in the number of listings. On average, listed homes are sold within 21 days of listing. The Realtors group also currently sees an increase in sale of homes costing more than $1 million. Buyers to whom cost is not a concern continue to make purchases and investments in homes. Chris Arnold, Housing Boom: Sales of Million-Dollar Homes Doub...

Tags: housing boom, listings, market trend, million dollar homes, National Association of Realtors, New York real estate, sales

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Prices on U.S. commercial real estate deals showed signs of improvement in the third quarter

The pandemic largely froze the commercial real estate market. However, a new analytic report shows that real estate deals showed signs of improvement in the third quarter. Although New York’s commercial market is still stalled, apartment buildings are performing relatively well elsewhere in the United States: John Gittelsohn, U.S. Commercial Real Estate Showing First Signs of a Thaw

Tags: commercial investors, commercial property, commercial real estate, commercial real estate recovery, market improvement, market recovery, real estate thaw

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Governor Cuomo extends moratorium for commercial eviction and foreclosures through January 1, 2021

Governor Cuomo announced extension of moratorium for commercial eviction and foreclosure for non-payment of rent through January 1, 2021. However, the moratorium applies only to commercial eviction for foreclosure cases post-March 17, 2020. Since August 13, 2020, New York courts have already begun proceeding with commercial eviction cases initiated before March 17, 2020 with a few exceptions. There is some movement on residential eviction cases and warrants. However, a bill allowing one year for...

Tags: commercial eviction, covid, executive order, extension, foreclosure, governor cuomo, moratorium, New York, non-payment

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