The Second-Home Tax Is Spreading—Is Your Vacation Property Next?

New York Gov. Kathy Hochul announced a handshake budget deal this week that includes a controversial pied-à-terre tax on second homes in New York City. The move reflects an increasingly popular tactic for lawmakers facing affordability crises that are squeezing constituents while blowing holes in st

Real Estate Market Update: Key Economic Insights and Actionable Takeaways

Federal Reserve and Market Reactions: Key Insight: The Federal Reserve is keeping policy “on hold,” delaying rate cuts until inflation shows more consistent signs of cooling, despite stable labor conditions and strong consumer spending. What This Means for Realtors: Rates may remain elevated in the

New-Home Sales Dip in July as Homebuilders Struggle To Entice Reluctant Buyers

Photo by Justin Sullivan/Getty Images Sales of newly built homes dropped in July, as price cuts and homebuilder incentives failed to lure buyers struggling with affordability. Signed contracts for new single-family homes were at a seasonally adjusted annual rate of 652,000 last month, down 8.2% from

75 housing markets where inventory is catching up—fast

Among the nation’s 200 largest housing markets, these 75 metro areas now have active inventory at or above 2019 pre-pandemic levels.   During the pandemic housing boom, from summer 2020 to spring 2022, the number of active homes for sale in most housing markets plummeted as homebuyer demand quickly