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August 2025

Weekly Report for August 29, 2025

Freshwater wetlands expert to present at NYSAR’s Commercial Issues Working Group virtual meeting on September 3 at 11 a.m.
Terresa Bakner, partner at Whiteman Osterman & Hanna LLP, will be presenting an overview and analysis of New York State DEC’s recently adopted freshwater wetlands regulations at NYSAR’s Commercial Issues Working Group virtual meeting on September 3 at 11 a.m. as part of NYSAR’s Fall Business Meetings. The meeting is open to all REALTORS® that register for the Business Meetings here.

NYSAR Legislative Virtual Meetings Schedule for FBM
NYSAR’s Fall Business Meetings virtual schedule of meetings dealing with state, local, and federal legislative matters is as follows:

Wednesday, September 3

  • Commercial Issues Working Group – 11 a.m. – 12 p.m.
  • NYC Issues Working Group – 1 p.m. – 2 p.m.
  • Coop Issues Working Group – 3 p.m. – 4 p.m.

For a full list of NYSAR’s Fall Business Meetings (both virtual and in-person) and to register, click here.

State officials to hold public hearings on draft energy transition plan
State officials will be holding their second public hearing on New York’s 15-year draft energy plan in Buffalo on September 3. Concerns over rising electric bills and the approved ban on natural gas in new home construction are among the top issues expected to be heard. There is also potential future increased demand around the state for more electricity from electric vehicles, new computer chip factories like Micron, data centers, and increased usage of artificial intelligence programs. A total of ten public hearings have been scheduled around the state throughout the month of September. Read more here.

Weekly Report for August 22, 2025

REALTORS® continue push to assist first-time homebuyers as home sale prices hit record high
The median price of homes for sale across New York hit historic heights in July while inventory continued to improve statewide, according to NYSAR’s housing report. Median home sale prices hit a record high of $451,000 last month, which is up 4.9 percent from $430,000 in July 2024. This marks the highest monthly median sales price since statistics have been kept in New York State. This statistic reinforces NYSAR’s advocacy in support of legislation to create a first-time homebuyer savings account to help New Yorkers saving to purchase their first home (S.1157/A.5098). NYSAR will continue to prioritize REALTOR® efforts to advance the bill in 2026. Read more here.

Albany County approves tax break for ADUs
The Albany County Legislature is the latest local government to approve a tax exemption for residents who construct an accessory dwelling unit, or ADU, on their property.  The tax break, which will go into effect at the start of next year, will apply to the increase in assessed value of a property as the result of constructing an ADU, which the county defines as any attached or detached independent living space for at least one person located on the same land parcel as a single-family or multifamily residency. Ulster County and the City of Kingston passed similar legislation earlier this year. Read more here.

Republicans to challenge Reps. Riley and Mannion
Republican State Senator Peter Oberacker is considering a run for Congress against Democratic Rep. Josh Riley in the 19thCongressional District which spans across parts of the Hudson Valley, Southern Tier, Finger Lakes and Capital District. Former Republican Rep. Marc Molinaro won the seat in 2022. State Sen. Oberacker was first elected to the Senate in 2020. Read more here.

In the 22nd Congressional District covering parts of Central New York, Republican Assemblymemeber John Lemondes announced he is challenging Democratic Rep. John Mannion. Assemblymember Lemondes was first elected to the Assembly in 2020 and said he will not seek re-election for his Assembly seat. Read more here.

Weekly Report for August 15, 2025

NYSAR Staff Meets with Assembly Staff on Written Buyer Broker Agreements (A.8910)
On Wednesday August 13, NYSAR staff met with Assembly Program and Counsel staff on A.8910 (Cruz), which would require the use of written buyer broker agreements prior to working with a potential homebuyer. This bill is one of NYSAR’s top legislative priorities. Passage of the bill would put into state law a current practice that came out of the NAR Settlement, which took effect in August 2024. NYSAR continues to work with the State Senate to have the bill introduced in that chamber as well. Read the legislation here.

Siena College Research Institute Releases New Poll on 2026 Governor’s Race
On August 12, the Siena College Research Institute released a poll that included a snapshot of the 2026 race for Governor. In that poll, Governor Kathy Hochul leads Congresswoman Elise Stefanik (NY-21) 45-31% in a hypothetical matchup. A similar poll conducted in June had Governor Kathy Hochul with a 47-24% lead. Congresswoman Stefanik has yet to declare but intends to announce whether she will run for Governor after the 2025 general elections in November. Read more about the poll here.

Two Climate Action Council Members Call for Official Delay of Renewable Targets
Two members of the Climate Action Council sent a letter in late July requesting that the Public Service Commission hold a hearing to officially delay the state’s renewable energy goals. The letter specifically calls for the state to delay the goals of attaining 70 percent renewable energy by 2030 and net zero emissions by 2040. According to the letter, state law permits the PSC to suspend or modify the state’s renewable energy goals if it finds that these goals impede the provision of safe and adequate electric service.  Governor Hochul earlier this year acknowledged that the state would not meet its renewable energy goals. Read the letter here.

Hudson Valley Pattern for Progress Cites NYSAR Housing Statistics in Recent Report
A recent report by the Hudson Valley Pattern for Progress relied on NYSAR housing market statistics and data from the National Low-Income Housing Coalition to highlight the increasing gap between wages and housing costs in 9 counties covering the Hudson Valley region. The report demonstrates the need for more housing at all levels. NYSAR continues to emphasize the need for more market rate and affordable housing in its conversations with state lawmakers. Read an article on the report here.

Weekly Report for August 8, 2025

NYSAR Legislative Virtual Meetings Schedule for FBM
NYSAR’s Fall Business Meetings virtual schedule of meetings dealing with state, local, and federal legislative matters is as follows:

Wednesday, September 3

  • Commercial Issues Working Group – 11 a.m. – 12 p.m.
  • NYC Issues Working Group – 1 p.m. – 2 p.m.
  • Coop Issues Working Group – 3 p.m. – 4 p.m.

Thursday, September 4

  • Federal Political Coordinator Update (Committee Members Only) – 10 a.m. – 11 a.m.
  • State Political Coordinator Update (Committee Members Only) – 12 p.m. – 1 pm.

For a full list of NYSAR’s Fall Business Meetings (both virtual and in-person) and to register, click here.

Another City Council Member joins sponsorship of NYSAR-supported coop transparency bill
This week, New York City Council Member Alexa Aviles (Brooklyn) added her name to the growing list of sponsors of NYSAR-supported coop transparency legislation (Int. 1120) following a meeting between NYSAR and the Council Member’s staff. NYSAR continues its advocacy work in support of the legislation, holding dozens of meetings with City Council Members over the last year highlighting the importance of the issue. NYSAR will provide an update on this topic during the Coop Issues Working Group Meeting (virtual) scheduled on September 3 at 3 p.m. during NYSAR’s Fall Business Meetings.

This NYC suburb has kept rents down by embracing new development
The city of New Rochelle in Westchester County has completed more than 4,500 new housing units over the past decade, while another 6,500 units are either in the pipeline or the planning stages for the next several years. Those 11,000 new units would represent a 37 percent increase in the number of housing units compared with 10 years ago. Due to the increased development, median rents are only 1.6 percent higher than in 2020. City officials adopted a new policy framework that streamlined environmental reviews, offered developers tax incentives, and created standardized zoning rules to make it easier and cheaper to build homes. The city has also used revenue from developer fees to launch down-payment assistance programs for new home buyers. Read more here.

Weekly Report for August 1, 2025

State Building Code Council approves All-Electric Buildings Act; Court upholds law, rejects legal challenges from fossil fuel industry
On July 25, the NYS Building Code Council voted unanimously to update the state’s building code implementing the All-Electric Buildings Act, which will require newly constructed single-family homes and low-rise buildings under 7 stories to be all electric beginning January 1, 2026. The prohibition on fossil fuels will apply to all new construction of residential and commercial buildings 7 stories and more beginning in 2029. This follows recent court decisions by the U.S. District Court that upheld the state’s 2023 All-Electric Buildings Act law and rejected arguments by the fossil fuel industry challenging the law’s legality.

The mandated electrification of new buildings is unfolding as the state is facing rapidly increasing demand for electricity from chip fab plants, data centers and a required shift to electric vehicles, according to a recent report on the state’s power supply from the New York Independent System Operator. Read more here.

REALTORS® secure win for veterans as VA Home Loan Reform Act becomes law
On July 30, President Trump signed H.R. 1815, the VA Home Loan Reform Act, into law, which aims to make permanent the VA’s temporary policy allowing veterans to directly compensate their real estate agents, ensuring they can participate in the housing market on equal footing with other homebuyers. REALTORS® successfully worked with Congress to permanently eliminate the outdated rule that had blocked veterans from having representation in transactions involving seller-paid commissions.

Senator Helming warns that NY’s energy policies are blocking housing affordability
State Senator Pam Helming (Canandaigua) is warning that New York’s strained electric grid is blocking much-needed housing development and pushing affordability further out of reach for working families.

In a statement Helming criticized the state’s climate mandates and electric capacity shortfalls as the primary culprits behind stalled housing projects and rising costs. Read more here.

Micron project sparks incoming real estate boom in Central New York
The anticipation of Micron’s semiconductor chip plants has ignited an unprecedented surge in real estate interest in Central New York, with local leaders aiming to build more than 2,000 homes annually. Both local and national developers and investors have shown a strong interest in various housing needs, multi-family projects in particular. Read more here.