Fall Business Meetings Registration is OPEN!
Registration for the 2021 NYSAR Fall Business Meetings is now open!
This year’s meetings will be a hybrid event, with select committee and working group meetings being held virtually via Zoom the week of September 20th. In-person meetings include the Legal Update and Safety Forum presented by 2021 President David Legaz – and of course our RPAC Karaoke fundraiser. The in-person portion of the Fall Business meetings will be October 4-6 at Turning Stone.
Registration is quick and easy – click here for Turning Stone reservations, schedules and more!
Sales prices reach all-time high amid continued low inventory
Albany, NY – August 23, 2021 – Median sales prices rose to a record-high $390,000 in New York in July while inventory has continued to decline for 21 consecutive months, according to the housing report released today by the New York State Association of REALTORS®.
The median sales price in New York State escalated 33.3 percent from $292,545 in July of 2020 to a record-breaking $390,000 last month. Year-to-date, median sales prices are up 28.1 percent – from $285,000 last year to $365,000 in 2021.
Inventory of homes for sale remained low in July. A total of 44,025 homes were on the market last month – a decrease of 19.5 percent compared to the 54,700 available in July 2020. The last time there was a rise in inventory was October 2019. Months supply of inventory declined to 3.2 months, which represents a 38.5 percent drop from the 5.2 months average in July 2020.
Both new listings and pending sales were down in July. New listings dropped 16.2 percent to 19,834 homes from the 23,670 listings in July 2020. Pending sales fell from 17,514 homes last year to 15,267 in July 2021 – a decrease of 12.8 percent.
Good news for homebuyers as mortgage interest rates fell to their lowest rate since February. According to Freddie Mac, the monthly average on a 30-year fixed-rate mortgage in July fell to 2.87 percent.
Data and analysis compiled for the New York State Association of REALTORS® by Showing Time Inc.
August Free Legal Update Now Available for Viewing
NYSAR’s new FREE Legal Update for August is now available for viewing. To view this recording and see past month’s recordings, click here.
State of Emergency extended until September 4, 2021. Cold Calling still prohibited
Governor Andrew M. Cuomo has extended the gun violence State of Emergency to September 4, 2021. As a result of being under a State of Emergency, licensees are still prohibited from making any cold calls.
Real estate licensees may not make any unsolicited phone calls to a member of the public during a State of Emergency. General Business Law §399-z(5)(a) states “It shall be unlawful for any telemarketer doing business in this state to knowingly make an unsolicited telemarketing sales call to any person in a county, city, town or village under a declared state of emergency or disaster emergency as described in sections twenty-four or twenty-eight of the executive law.” All other types of marketing such as mailers, billboards, social media, internet etc., are permitted. You may call a FSBO if you have an identifiable purchaser interested in the property. You are prohibited from calling the FSBO to solicit the listing. You may still perform business to business calls so long as you are calling the number provided as the business number.
NY HERO Act Deadline is August 5, 2021
On May 5, 2021, Governor Andrew Cuomo signed the New York Health and Essential Rights Act (NY HERO Act) into law. The law mandates extensive new workplace health and safety protections in response to the COVID-19 pandemic. Under the New York HERO Act, all employers must have a written airborne infection disease exposure plan in place by Thursday, August 5, 2021.
For resources and plan templates, click here to be redirected to the New York State Department of Labor website.
Governor Cuomo issues gun violence State of Emergency. Cold Calling is again prohibited.
Governor Cuomo has recently issued a State of Emergency in New York State due to gun violence. This executive order is in effect until August 5, 2021.
As a result of being under a State of Emergency, licensees are again prohibited from making any cold calls. Real estate licensees may not make any unsolicited phone calls to a member of the public during a State of Emergency. General Business Law §399-z(5)(a) states “It shall be unlawful for any telemarketer doing business in this state to knowingly make an unsolicited telemarketing sales call to any person in a county, city, town or village under a declared state of emergency or disaster emergency as described in sections twenty-four or twenty-eight of the executive law.” All other types of marketing such as mailers, billboards, social media, internet etc., are permitted. You may call a FSBO if you have an identifiable purchaser interested in the property. You are prohibited from calling the FSBO to solicit the listing. You may still perform business to business calls so long as you are calling the number provided as the business number.
Low inventory, high prices continue into June
Albany, N.Y. – July 22, 2021 – Median sales prices continued to rise in the Empire State in June while the number of homes available remained at record lows, according to the housing report released today by the New York State Association of REALTORS®.
The median sales price in New York State jumped 28.3 percent from $300,000 in June of 2020 to $385,000 last month. Year-to-date, median sales prices are up 26.8 percent – from $285,000 in 2020 to $361,500 this year.
Inventory remained low with only 42,598 units available in June compared to 53,939 in June 2020 – a decrease of 21 percent. This marks 19 consecutive months of decreasing inventory in year-over-year comparisons. Months supply of inventory fell to 3 months – a decrease of 43.4 percent from 5.3 months of inventory last June.
Closed sales escalated 55.4 percent in June 2021 to 13,111 units from 8,436 sales last year. Pending sales rose 11.3 percent in year-over-year comparisons. In June 2020, there were just 14,814 pending sales in New York compared to 16,481 this June.
Mortgage interest rates continue to be favorable for potential homebuyers. According to Freddie Mac, the monthly average on a 30-year fixed-rate mortgage in June increased slightly to 2.98 percent from 2.96 percent in May 2021.
Data and analysis compiled for the New York State Association of REALTORS® by Showing Time Inc.
July NYSAR REALTOR® Safety Minute now available
NYSAR’s July REALTOR® Safety Minute with 2021 President David Legaz is now available for viewing. This month, President Legaz discusses some signs to look for and situations to be aware of where a predator may be setting up for an attack. Take a look at July’s Safety Minute by clicking here.
NYSAR Committee Sign-Up now open through July 31
Now is the time to volunteer your time to serve on a New York State Association of REALTORS® committee, forum, working group or foundation.
By signing up for committee service, you will be helping guide and shape your association, while gaining a deeper understanding of our industry’s issues and the value of being a member of the REALTOR® family. A personally and professionally rewarding experience, committee involvement is also a great networking tool and a way to make lasting friendships and connections.
Everyone is invited to be an active committee member. You may sign up for up to four open committees and request up to three closed committees of the more than 25 NYSAR committees available in 2022. Only open committees will be automatic appointments. Closed committee requests will be vetted by the NYSAR Leadership Team
We ask you to be sure that you’ll be able to attend the following 2022 business meetings before committing to serve:
- Mid-Winter Business Meetings: February 6-10, 2022 – The Desmond Hotel, Albany, New York
- Fall Business Meetings: September 30 – October 3, 2022 – Saratoga Hilton, Saratoga, New York
NYSAR committee sign up is available right now through July 31. In order to make your requests, click here. You will need to sign-in using your NYSAR.com login credentials.
NYSAR Awards Nominations Deadline Extended
Nominations for the NYSAR REALTOR® of the Year, Community Service, and Alan Yassky Distinguished Service awards have been extended to July 30. To learn more about the awards and download the nomination form, click here!
June Free Legal Update Now Available for Viewing
NYSAR’s new FREE Legal Update for June is now available for viewing. To view this recording and see past month’s recordings, click here.
State of Emergency to expire, will not be renewed.
Governor Cuomo announced June 23, 2021 that the current State of Emergency, set to expire on June 24, 2021, will not be renewed. As a result, cold calling and telemarketing will be allowed as of Thursday, June 24, 2021.
However, CDC guidelines such as mask requirements for unvaccinated individuals, do remain in effect. You can read more about these guidelines and what it means for real estate licensees in New York by visiting NYSAR’s Frequently Asked Questions page, here.
