April sees a surge in listings as inventory edges up across New York
Albany, NY – May 20, 2026 – A rise in homes coming onto the market gave New York homebuyers more options in April, helping slightly boost pending sales across the state, according to the housing report released today by the New York State Association of REALTORS®.
Housing inventory throughout the Empire State rose 4.7 percent in April – from 26,796 available units in 2025 to 28,058 properties in 2026. This marks the highest number of homes available since November 2025.
New listings also saw a notable jump, rising 10 percent to 15,408 homes added to the market last month, compared to 14,012 a year ago. Pending sales inched upwards, rising from 9,422 sales in April 2025 to 9,461 homes last month. Closed sales were down in year-over-year comparisons, dropping 8.0 percent – from 7,148 sales last year to 6,579 homes in April 2026.
Median sales prices were also on the rise, elevating from the $420,000 price tag on a home in April 2025 to $430,000 last month. This marks a 2.4 percent increase.
Mortgage rates rose during April, according to Freddie Mac. The average rate on a 30-year fixed mortgage was 6.33 percent, slightly higher than 6.18 percent in April. That rate is still well below the 6.73 percent average rate from April 2025.
Additional data is available at http://www.nysar.com/industry-resources/market-data.
REALTOR® Call for Action – Say No to More Real Estate Taxes
Right now, state lawmakers are considering a state budget proposal that would create a new real estate tax or surcharge on high-value second homes in New York State.
Imposing a so-called “pied-a-terre” tax is short-sighted and does not take into account the significant revenue directed to localities and New York State, which expensive second homes generate by way of property taxes and other forms of real estate taxes, such as real estate transfer taxes, state “mansion taxes” and mortgage recording taxes.
Discouraging second home sales in New York will diminish revenue that New York State and localities rely on.
Please Take Action Today!
Click HERE to join the Call to Action!
Real Estate Licensees Should Not Discuss Crime or School Quality with Consumers
On April 24, 2026, HUD published a “Dear Colleague” letter to real estate licensees advising them that “real estate professionals may lawfully discuss neighborhood crime rates and school quality with clients” and doing so would not violate federal fair housing laws. Although it is the opinion of HUD that such discussions do not violate federal fair housing laws, such discussions would still be subject to NYS law and licensees may be held liable if they engage in such discussions.
Real estate licensees in New York must follow NY laws, rules and regulations addressing discrimination in the sale and rental of real property that are separate from federal fair housing laws. Therefore, if HUD claims discussions about crime or school quality does not violate federal fair housing law, NYS and its laws are not bound by the opinion of HUD.
NYSAR members may be subject to liability under NYS law if they follow the information provided in the HUD “Dear Colleague” letter.
A link to the “Dear Colleague” letter can be found here: https://www.hud.gov/news/hud-no-26-028
NYSAR members with questions may contact the NYSAR Legal Hotline. The Legal Hotline is available Monday-Friday from 9:00am-4:00pm at 518-436-9727.
Slower sales, higher prices across New York in March
Albany, NY – April 22, 2026 – Home sales across New York slowed in March while sales prices rose yet again, according to the housing report released today by the New York State Association of REALTORS®.
Closed sales declined 5.7 percent year-over-year, falling from 9,971 homes sold in March 2025 to 6,574 units last month. Pending sales also slipped, down 3.3 percent from 8,574 homes under contract a year ago to 8,294 in March 2026. New listings, however, showed little movement. There were 12,372 homes listed in March, nearly unchanged from 12,380 listings during the same month last year – a difference of 0.1 percent.
The median sales price rose 3.8 percent, climbing from $419,000 in March 2025 to $435,000 this March. Notably, the last time the median sales price was below $400,000 was March 2024.
Housing inventory across the Empire State dipped modestly in March – from 24,574 homes on the market in 2025 to 24,386 units in 2026, marking a 0.8 percent decline in available houses.
Mortgage steadily increased throughout March. According to Freddie Mac, the average rate on a 30-year fixed mortgage was 6.18 percent, up from 6.05 percent in February but still well below the 6.65 percent average recorded in March 2025.
Additional data is available at http://www.nysar.com/industry-resources/market-data.
Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums, and existing single-family homes.
New York State Supreme Court rules against state wetland regulations
NYSAR and a coalition of pro-business organizations won an important victory yesterday when the New York State Supreme Court ruled against oppressive state wetland regulations. NYSAR and the coalition filed suit to halt the regulations that were a serious impediment to new housing and commercial real estate development.
The court found that the NYS Department of Environmental Conservation (NYSDEC) failed to critically examine both good and bad impacts of the regulations. The court stated: “Having concluded that DEC did not adequately identify the relevant areas of environmental concern, did not take a ‘hard look’ at them and did not make a reasoned elaboration of the basis for its determination of non-significance” the “regulations – must be annulled for noncompliance with SEQRA.”
New York State will most likely appeal. NYSAR will continue to oppose the regulations. For more on NYSAR advocacy priorities, click here.
Call for Action: Tell your state lawmakers to make it easier to build more housing
Right now, state lawmakers are considering various proposals to expedite the housing construction process by reforming the State’s Environmental Quality Review Act (SEQRA). This outdated law must be changed to address our state’s inventory shortage and housing affordability crisis. The Governor and State Legislature are in the midst of negotiating this year’s State Budget, and with housing inventory at record lows, now is the time to reduce barriers to new housing construction by reforming SEQRA. Click here to contact your state lawmakers today and tell them to include SEQRA reforms in this year’s state budget.
New York housing inventory reaches lowest level on record in February
Albany, NY – March 20, 2026 – Housing inventory across New York State in February, fell to its lowest level on record, while closed sales also declined compared to a year ago, according to the housing report released today by the New York State Association of REALTORS®.
Available homes in New York dropped to just 22,366 homes on the market in February 2026, marking a 3.9 percent decrease from the 23,266 homes available in February 2025. This marks the lowest number of homes for sale since NYSAR began tracking data in 1997.
“We appreciate New York State’s commitment to expanding housing opportunities, but the latest data makes clear that the shortage isn’t improving fast enough and demands more immediate action,” said 2026 NYSAR President Ron Garafalo. “We respectfully urge the Legislature and Governor Hochul to accelerate efforts to remove barriers and help facilitate increased housing production across the state.”
Closed sales declined 10.8 percent year-over-year, falling from 8,601 homes sold in February 2025 to 7,673 homes last month. Pending sales also moved lower, decreasing 8.0 percent from 6,707 homes under contract in February 2025 to 6,169 this February.
New listings entering the market slipped slightly, declining 3.9 percent from 6,103 properties in February 2025 to 5,867 this year.
Home prices remained unchanged from the previous year. The statewide median sales price in February was $425,000, the same as the median price reported in February 2025.
Mortgage rates dropped slightly during February. According to Freddie Mac, the average 30-year fixed mortgage rate stood at 6.05 percent, down slightly from 6.10 percent last month. This is considerably lower, though than the 6.84 percent rate in February 2025.
Additional data is available at http://www.nysar.com/industry-resources/market-data.
NYSAR Legal Update: Lawful Source of Income Still a Protected Class in NY During Appeal
NYSAR is aware of and monitoring a decision published on March 5, 2026 by the New York State Supreme Court addressing the constitutionality of certain housing assistance programs and lawful source of income protection.
The New York State Attorney General has filed an appeal to the New York State Court of Appeals which is New York’s highest court.
Upon filing the appeal, the decision is stayed until the New York State Court of Appeals publishes a decision.
Because the decision is stayed, lawful source of income is still a protected class under New York law.
If you have legal questions about licensed activities in New York, please call the NYSAR Legal Hotline at 518-436-9727, Monday-Friday from 9:00am-4:00pm.
NYSAR releases joint statement with business community on proposed tax increases in State Budget
Following the release of the State Senate and Assembly one-house budget proposals, NYSAR released a joint statement along with other leaders of the business and real estate communities warning that the proposed tax increases will significantly harm New Yorkers and the state’s economy if enacted.
“New York City’s business community stands united in strong opposition to tax increases as part of the State budget under negotiations. New York is the highest tax and spending jurisdiction in the country and New Yorkers already pay among the highest individual, business, and property taxes. This is particularly true in New York City, which is home to the nation’s highest individual, business, and real estate tax rates. The Governor’s Executive Budget prudently recognized this reality. The legislative one-house budgets do not. These ill-advised proposals will only make it harder for families and businesses to live and grow in New York City, deter investment, and continue New York’s electoral decline due to its tax and fiscal policies.”
Slow start to New York housing market in 2026
Albany, NY – February 20, 2026 – New York’s housing market saw a slower start to 2026 with sales activity declining in January even as home prices continued their upward trend, according to the housing report released today by the New York State Association of REALTORS®.
Closed sales decreased 7.5 percent year-over-year, slipping from 7,893 homes sold in January 2025 to 7,304 last month. Pending sales followed a similar pattern, falling 5.5 percent from 6,321 homes under contract one year ago to 5,972 this January. New listings also moved lower, declining 7.3 percent from 9,133 properties in January 2025 to 8,468 this year.
Sales prices across the state continue to rise. The median sales price rose 7.2 percent year-over-year to $445,000, compared to $415,000 in January 2025. This marks 30 consecutive months of annual median price growth across the state.
Inventory tightened slightly to begin the year with 22,986 homes available in January 2026, down from 23,626 available properties one year earlier.
Financing conditions improved modestly in January as the average 30-year fixed-rate mortgage rate declined to 6.10 percent, according to Freddie Mac. This represents a slight drop from a 6.19 percent rate in December and a notable decrease from the 6.96 percent average in January 2025.
NYSAR’s Statement on NYC Mayor Mamdani’s proposed property tax increase
Please see the below statement from NYSAR regarding New York City Mayor Zohran Mamdani’s proposed tax increase.
The New York State Association of REALTORS® strongly condemns the property tax hike included in Mayor Zohran Mamdani’s proposed budget for New York City. Property owners in New York City are already overtaxed and overregulated which harms residents of all income levels. At a time when many New Yorkers are leaving for lower-tax states, raising property taxes is both counterproductive and irresponsible. Property tax increases also raise the specter of even higher rents which affects everyone. We urge the mayor to restrain spending rather than put another dagger in the city real estate market.
NYSAR Flash Update: NYC Passes Groundbreaking Fair Housing and Transparency Law
NYSAR is pleased to report that the long-fought battle for co-op fairness in New York City will become law. This years-long effort culminated last Thursday, January 29, when the New York City Council passed landmark legislation (Int. 1120-B) through an override of Mayor Adams’ veto. Veto overrides are rare and this historic victory provides long-needed fairness and transparency in the cooperative housing application process. It demonstrates the effectiveness of REALTORS® who dedicated years of advocacy and lobbying efforts to educate city lawmakers and secure this win for consumers and the real estate industry.
NYSAR has been a steadfast supporter of coop transparency for the better part of three decades, with the original concept stemming from the work of NYSAR’s Working Groups and Committees. And while results were not immediate at that time, those discussions formed the bedrock of advocacy efforts to ultimately enact reforms in the coop application and purchase process in the largest city in the country.
It cannot be overstated the number of challenges this bill has faced in the decades preceding its passage – however REALTORS® consistently made their voices heard. In 2025, NYSAR along with local REALTOR® boards representing all five boroughs (Hudson Gateway Association of REALTORS®, Long Island Board of REALTORS®, Staten Island Board of REALTORS® and Brooklyn Board of REALTORS®) met with nearly every New York City Council Member and their staff to provide first-hand accounts of the harm experienced by clients when trying to buy and sell coop units in New York. REALTORS® led a panel testifying under oath before the New York City Council and submitted hundreds of letters in support of the legislation leading up to the vote. Local REALTOR® boards even launched a New York City REALTOR® Lobby Day devoted to the issue. This multi-pronged approach of REALTOR® activism is what distinguishes our state and local associations from other organizations and displays the strength of the REALTOR® brand on a local, state and national level. Thank you to all the REALTORS® and local REALTOR® boards throughout the years who helped get this bill across the finish line.
This legislative victory builds on a strong history of policy involvement at all levels of government in New York. NYSAR remains committed to representing your interests.
About the new law
Specifically, the new law requires coop boards in New York City to acknowledge receipt of application materials within 15 days and provide notice of whether it has consented to or rejected the sale within 45 days after the application is complete. The law requires the City Department of Housing Preservation and Development to issue violations for failure to meet these requirements. Prior to this law, coop boards had no obligation to respond to a submitted application or notify the applicant as to whether the sale was accepted or denied. This loophole in the law permitted unreasonable delays in the transaction and illegal discrimination. Text, summary and votes on the bill can be found here.
For more updates on NYSAR Government Affairs visit https://www.nysar.com/advocacy/.
