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| Welcome to the Year of the Dragon, where the US housing market is set to soar! Since last fall, the decline in mortgage rates has ushered in more supply and fueled increased sales. However, it's important to note that many homeowners are still locked into a previous low rate. So, it's essential not to overinterpret the pace of this rising transaction trend. In 2024, we embrace a Year of Incremental Change. |
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| | Is 2024 a good year to buy a home? |
| The 2023 housing market saw a 17% drop in sales, 7% price surge, and near 8% mortgage rates. Expecting gradual improvements in 2024, experts highlight Austin, Texas, as a top market, anticipating a slight decrease in rates and improved affordability with increased inventory. |
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Zillow Just Released Its Housing Predictions for 2024—and It Changes Everything |
| Zillow's 2024 predictions highlight Buffalo, New York, as a housing hotspot due to job growth and affordability, while Cincinnati and Columbus follow. The shift from buying starter homes to single-family rentals is noted, driven by high mortgage rates and increased optionality for homeowners considering renting instead of selling. |
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| | The One Part of the Housing Market That’s Growing |
| Amidst a slow housing market, the construction sector thrives with newly built houses constituting 30% of the market, up from 11%. Developers' incentives and a surge in residential investment contribute to this trend, overcoming challenges posed by higher mortgage rates, as builders adapt to attract budget-conscious buyers without significantly lowering prices. |
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| | The Chinese New Year Parade |
| Chinatown’s annual Lunar (Chinese) New Year Parade is back on February 25, 2024 with dragon dancing, stunning outfits, martial art performers and more. Head to Chinatown for the Lunar New Year Parade, which celebrates the year of the dragon. Click HERE for more information! |
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| | | | "Colors in Bloom" at the Color Factory |
| Miranda Priestly once famously said, "Florals? For spring? Groundbreaking." But at Color Factory, florals for spring are actually groundbreaking as the interactive art experience in Soho takes flowery themes to immersive new levels. Click HERE for more information! |
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| | Real Estate and Design Trends to Watch in 2024 |
| Staying abreast of what’s new and innovative in design and real estate is important, not to be trendy but to learn about innovative materials, systems and products to live more sustainably and benefit the planet. |
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| 249 East 62nd Street # 20B |
| 3 BD 3 BA 1693 SF $3,950,000 |
| | Residence 20B is a generous three bedroom, three bathroom home, with 10-foot ceilings and floor-to-ceiling windows boasting open city and river views. The impressive living and dining areas offers abundant light from three exposures. Outdoor living and dining are an added pleasure as the residence features a private terrace space, boasting unobstructed views of the skyline. |
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| Best New Developments for NY University Student's |
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| | 1 BD 1 BA 694 SF $1,485,000 |
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| | | | 1 BD 2 BA 716 SF $1,435,000 |
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| | | | 1 BD 1 BA 765 SF $1,325,000 |
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| | | 1 BD 1 BA 609 SF $1,290,000 |
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| | | | 1 BD 1 BA 606 SF $1,288,000 |
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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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