Robust buyer demand continues across New York State in May

Albany, NY – June 22, 2021 – The housing market in the Empire State continues to surge, with pending sales nearly doubling from a year ago, according to the housing report released today by the New York State Association of REALTORS®.

Pending and closed sales continue to rise in year-over-year comparisons. Amid the early stages of the pandemic in May 2020, there were just 8,245 pending sales in New York compared to 15,775 in May 2021 – an increase of 91.3 percent. Closed sales jumped up 43.2 percent in May 2021 to 10,694 units from 7,467 sales last year.

Inventory remains low with only 40,776 units available in May compared to 50,038 in May 2020 – a decrease of 18.5 percent. This marks 18 consecutive months that the number of homes available has decreased in year-over-year comparisons.

The median price of homes continues to climb, escalating to $357,000 in May 2021. This represents a 29.3% increase from the $276,000 price in May 2020.

Mortgage interest rates continue to aid potential homebuyers. According to Freddie Mac, the monthly average on a 30-year fixed-rate mortgage in May decreased to 2.96 percent from 3.06 percent in April 2021.

Data and analysis compiled for the New York State Association of REALTORS^® by Showing Time Inc.

June Safety Month Video Now Available

NYSAR’s monthly Safety Minute video featuring 2021 President David Legaz is now available for viewing. You can access this video and other helpful resources by visiting our REALTOR® safety page by clicking here.

State of Emergency remains in effect. Cold Calling is still prohibited.

Governor Cuomo announced June 15, 2021 that most of the remaining COVID-19 related restrictions on businesses are now lifted. Governor Cuomo did NOT remove the State of Emergency. This means that cold calling restrictions Governor Cuomo placed on businesses like real estate are still in effect. NYSAR strongly believes that the cold calling prohibition is unnecessary, unfair and must end.

NYSAR is continuing to press Governor Cuomo to lift the cold calling ban and we need your help. Please click on this link to send an email to Governor Cuomo or call him directly at 518-474-8390 and tell him the cold calling prohibition must end now!

NYSAR Awards Nomination Deadline Drawing Near

Nominate someone for the NYSAR REALTOR® of the Year, Community Service, and Alan Yassky Distinguished Service awards by June 25. To learn more about the awards and download the nomination form, click here!

Celebrate National Homeownership Month

June is Homeownership Month and what better way to celebrate than to help first-time homebuyers? The NYSAR Housing Opportunities Foundation offers $2,000 grants to first-time homebuyers who work with New York State REALTORS®. Help raise funds for the foundation while purchasing life-saving jewelry and accessories from Invisawear®. Save 10 percent when you use discount code “NYSARHOF” at Invisawear.com.

Governor Cuomo Extends State of Emergency to June 24, 2021

Governor Cuomo has extended the State of Emergency to June 24, 2021. As a result, licensees are still required to abide by all such guidance, directives and industry phased reopening that are currently in place.

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.

NYS publishes guidance for businesses under the reopening plan, Phase 2 no longer in effect

As part of the reopening plan, ESD has provided “Reopening New York: Implementing CDC Guidance” to replace the guidance under Phase 2. The new guidance must be used by businesses in order to be in compliance with the new reopening plan. The ESD reopening guidance can be found here.

For NYSAR members, licensees who are fully vaccinated and are not otherwise restricted by business, workplace or consumer requirements, may perform real estate activity without a mask. Also, when all parties are fully vaccinated, licensees are not required to clean/disinfect the property after a showing.

The most recent version of the CDC “Interim Public Health Recommendations for Fully Vaccinated People” dated May 13, 2021, states that individuals are considered fully vaccinated for COVID-19 ≥2 weeks after they have received the second dose in a 2-dose series (Pfizer-BioNTech or Moderna), or ≥2 weeks after they have received a single-dose vaccine (Johnson & Johnson [J&J]/Janssen.) There is currently no post-vaccination time limit on fully vaccinated status. If the individual has received the vaccination but is still within the ≥2 week period, they are considered not fully vaccinated. This includes children not yet eligible for vaccination. The CDC guidance can be found here.

The CDC guidance further states that “You can resume activities without wearing a mask or staying 6 feet apart, except where required by federal, state, local, tribal, or territorial laws, rules, and regulations, including local business and workplace guidance.” The emphasized section of the guidance permits federal, state and local governments to impose stricter standards on businesses and workplace as well as permitting businesses and workplaces to require masks of all individuals regardless of vaccination status. This would also permit sellers, landlords etc. to require all parties to wear masks in order to enter the property for the purpose of a showing or open house. If an individual refuses to wear a mask, the sellers, landlords etc. could deny entry to that individual. It is up to the business owner or seller/landlord as to whether to require masks of all individuals indoors.

As a result of the new reopening guidance, the Phase 2 guidance is no longer in effect. Licensees no longer need to use the NYSAR COVID-19 Health Questionnaire or COVID-19 Disclosure Form. They are not required for fully vaccinated individuals but may still be used for those individuals that are unvaccinated or not fully vaccinated. The cold-calling prohibition is still in effect until the State of Emergency is lifted.

The ESD reopening guidance sets forth the responsibilities of businesses if they choose to follow the CDC guidance and for those that choose not to.

For businesses that do not congregate customers/clients and/or that operate below the State’s social gathering limit of 250 indoors or 500 outdoors (e.g., retail, food services, offices)

If the business is implementing the CDC guidance, they may require proof of full vaccination status through paper form, digital application, or the State’s Excelsior Pass. Alternatively, such businesses may rely upon self-reporting of vaccination status (e.g., honor system.) Masks are not required of fully vaccinated individuals under the CDC guidance, but it does require unvaccinated or not fully vaccinated individuals to wear masks and be socially distanced. The business may decide to apply this guidance to the entire establishment or a separate, designated part of the establishment. If the business is not following the CDC guidance, all individuals must wear masks and maintain six feet of social distancing.

This also applies to showings and open houses. A seller/landlord may not require all individuals entering the property to be vaccinated. A seller may require proof of vaccination for those individuals not wearing masks. It is up to the seller/landlord as to how the proof is provided. The seller/landlord can require the listing agent to verify or agree that the cooperating broker will. This is all up to what the seller/landlord is comfortable with. A seller/landlord may still require all individuals to wear a mask regardless of vaccination status.

Guidance for Individuals Performing Real Estate Activity that are Unvaccinated or not Fully Vaccinated

If you are fully vaccinated and refuse to show proof of vaccination, you will be considered to be unvaccinated. Unvaccinated or not fully vaccinated individuals, under both CDC and state guidance must wear masks in all public settings and try to maintain social distancing. You still need to wash your hands regularly. You still need to clean/disinfect high touch surfaces at all showings if the licensee or any client/customer is not fully vaccinated or unvaccinated.

Please monitor your email for NYSAR Flash updates if additional guidance is made available. NYSAR has published a new FAQ based on the ESD reopening guidance that can be found here.

NYSAR members with questions may contact the NYSAR Legal Hotline at 518-436-9727, Monday-Friday, 9:00a.m.-4:00p.m. at 518-436-9727.

Low inventory, high prices guide NYS housing market in April

Albany, NY – May 21, 2021 –Inventory of homes for sale continued to decrease in the Empire State while home prices remained on the rise in April, according to the housing report released today by the New York State Association of REALTORS^®.

For 17 consecutive months, the number of homes available has dwindled, in year-over-year comparisons. Amid the beginning of the COVID-19 pandemic in April 2020, inventory of units on the market was 49,195. In April 2021, there were 38,751 homes available – a 22.2 percent decrease.

The median price of homes continued to climb, escalating to $370,000 in April 2021. This represents an 42.3% increase from the $260,000 price in April 2020. This marks 11 consecutive months of increasing median sales prices.

Closed sales rose 47.6 percent in April 2021 – from 7,134 homes in the early stages of the pandemic last April to 10,528 this year. Pending sales were also elevated, from 5,312 homes in April 2020 to 14,596 units this year – a 174.8 percent increase.

Mortgage interest rates ticked down slightly in April 2021. According to Freddie Mac, the monthly average on a 30-year fixed rate mortgage in April decreased to 3.06 percent from 3.08 percent in March 2021.

Data and analysis compiled for the New York State Association of REALTORS^® by Showing Time Inc.

New York will follow CDC mask guidance

Effective Wednesday, May 19, 2021, new guidance is in effect for real estate licensees pursuant to Governor Cuomo’s announcement that New York will now follow CDC guidelines. Licensees who are fully vaccinated and are not otherwise restricted by business, workplace or consumer requirements may perform real estate activity without a mask if all parties present are also fully vaccinated. Also, when all parties are fully vaccinated licensees are not required to clean/disinfect the property after a showing. Guidelines for licensees that are not fully vaccinated or for licensees showing unvaccinated or not fully vaccinated customers/clients property can be found below.

The most recent version of the CDC “Interim Public Health Recommendations for Fully Vaccinated People” dated May 13, 2021, states that individuals are considered fully vaccinated for COVID-19 ≥2 weeks after they have received the second dose in a 2-dose series (Pfizer-BioNTech or Moderna), or ≥2 weeks after they have received a single-dose vaccine (Johnson & Johnson [J&J]/Janssen); there is currently no post-vaccination time limit on fully vaccinated status. If the individual has received the vaccination but is still within the ≥2 week period, they are considered not fully vaccinated. This includes children not yet eligible for vaccination.

The CDC guidance further states that “You can resume activities without wearing a mask or staying 6 feet apart, except where required by federal, state, local, tribal, or territorial laws, rules, and regulations, including local business and workplace guidance.” The emphasized section of the guidance permits federal, state and local governments to impose stricter standards on businesses and workplace as well as permitting businesses and workplaces to require masks of all individuals regardless of vaccination status. This would also permit sellers, landlords etc. to require vaccinations of licensees and their clients/customers entering the property for the purpose of a showing or open house. If proof of vaccination is not provided, the sellers, landlords etc. could deny entry to those individuals. It is up to the individual or business owner as to whether to require masks indoors. Guidance provided by the Governor and dated May 17, 2021, can be found below under “Business Mask Rules” and “Business Capacity Rules”

Guidance for Individuals Performing Real Estate Activity that are Unvaccinated or not Fully Vaccinated

Business Mask Rules

Given that the CDC has advised that fully vaccinated individuals do not need to wear masks and over 52 percent of New Yorkers over the age of 18 are fully vaccinated, the State will authorize businesses to continue to require masks for all in their establishments, consistent with the CDC guidance. In most settings, vaccinated individuals will not be required to wear a mask. Unvaccinated individuals, under both CDC and state guidance must wear masks in all public settings.

The Department of Health strongly recommends masks in indoor settings where vaccination status of individuals is unknown. Mask requirements by businesses must adhere to all applicable federal and state laws and regulations.

“This recommendation will apply across commercial settings, including retail, food services, offices, gyms and fitness centers, amusement and family entertainment, hair salons, barber shops and other personal care services, among other settings.” “The Department of Health strongly recommends masks in indoor settings where vaccination status of individuals is unknown.”

Business Capacity Rules

As previously announced, most business capacities — which are currently based upon percentage of maximum occupancy — will be removed on May 19. Businesses will only be limited by the space available for patrons or parties of patrons to maintain the required social distance of 6 feet.

However, given that the CDC has advised that fully vaccinated individuals do not need to maintain social distance, businesses may eliminate the 6 feet of required social distancing, and therefore increase capacity, only if all patrons within the establishment — or a separate designated part of the establishment — present proof of full vaccination status. Proof of full vaccination status can be provided by patrons through paper form, digital application, or New York State’s Excelsior Pass.

For areas where vaccination status of individuals is unknown and for patrons who do not present proof of full vaccination status, the required social distance of 6 feet still applies until more New Yorkers are fully vaccinated. This change will apply across all commercial settings, except the exempt settings outlined by the CDC.

NYS guidance: https://www.governor.ny.gov/news/governor-cuomo-announces-new-york-state-adopt-new-cdc-guidance-mask-use-and-social-distancing

CDC Interim Public Health Recommendations for Fully Vaccinated People: https://www.cdc.gov/coronavirus/2019-ncov/vaccines/fully-vaccinated-guidance.html

CDC Guidance for Unvaccinated People: https://www.cdc.gov/coronavirus/2019-ncov/prevent-getting-sick/prevention.html

Please click here for a FAQ on this decision and monitor your email for NYSAR Flash Updates if further guidance is provided by the Governor.

Call for Action: Remove Telemarketing Restrictions on Real Estate Licensees

Take Action Now! Tell Gov. Andrew Cuomo and state lawmakers to remove cold call restrictions on licensed real estate professionals during a State of Emergency.

Right now, REALTORS® are being shut out of conducting cold calls due to the ongoing State of Emergency in New York. This is impeding business and we need to urge state lawmakers to put an end to the cold call ban now.

REALTORS® are essential to New York’s economy and need to be able to fully operate and conduct business without this restriction. Even during the onset of the pandemic, real estate services were deemed an essential professional service by Empire State Development, recognizing the importance of a vibrant and open real estate market.

There is a critical housing shortage and this ban is making it worse by stopping us from developing new listings. It’s overdue to end this counterproductive restriction.

Click here to submit YOUR Call for Action!

May Free Legal Update Now Available for Viewing

NYSAR’s new FREE Legal Update for May is now available for viewing. To view this recording and see past month’s recordings, click here.

Fair Housing Month Education Videos Now Available

Video recordings for various Fair Housing Month education classes are now available on NYSAR.com for viewing. Classes available include “Fair Housing: Long Island Divided” presented by lead Newsday reporter Bill Dedman, “What you don’t know could put you in jeopardy” with Randy Templeman and NYSAR Past-president Linda Lugo’s presentation, “High Context and Low Context Cultures.” These videos and more are available on NYSAR’s dedicated Fair Housing webpage by clicking here.