Higher prices are almost everywhere in America—not just across Long Island. Inflation is rising, impacting everything from gasoline and health care to groceries and rent—including the cost of buying a home. Aggressive inflation without a counterbalanced growth in salaries and income—which is often the case today—means less money to spend on your mortgage every month. […]
The 2021 Long Island housing market challenged many buyers. Low mortgage interest rates and more flexible remote work opportunities got many hopeful new homeowners itching to get into the game. However, low housing inventory, skyrocketing home prices, and fierce bidding wars forced many buyers out of the market, leaving their dreams of finding a home […]
2021 was a historic year for the Long Island real estate market—and a nightmare for many aspiring homebuyers. Even after finding a home within budget—its own challenge in a market with a 40-year low inventory—countless would-be buyers lost potential new homes to the wrath of frenzied bidding wars. In the spring, a staggering 74% of […]
The starter home ignited the American dream. For decades, the affordability and manageable maintenance of smaller properties awarded first-time home buyers with an exciting chance to own a place to call home. And the nation’s first mass-produced suburb—the culmination of the American dream—started right here on Long Island in Levittown. (The neighboring community of Hicksville […]
The typical Long Island housing market cools in the fall and winter. And that’s shaping up to be the case as we enter Q4. Despite the red-hot, pandemic-driven market that saw double-digit growth and extraordinary buyer competition in 2021, we’re inching back to a more normal state with a more regular seasonal slowdown. Despite the […]
2021 was the year of fast-rising home prices, limited inventory, fierce competition (including heated bidding wars), and other big challenges for Long Island home buyers. In hindsight, a growing list of frustrated would-be new homeowners—from renters hoping to start building up some equity to current homeowners ready to upgrade or downsize—are scratching their heads wondering: […]
Things have changed and times are strange. When COVID-19 hit, no one expected a Suffolk County housing boom on the horizon. What’s even more surprising: the red-hot housing market remains ablaze since the initial spark back in 2020. And if you don’t know how we got here, Team Rita has the crash course to keep […]
So you found the perfect home in the perfect neighborhood that checks all your boxes including proximity to work, schools, shopping, and more. The only problem: there’s a list of people ready to spend top dollar to snatch up the same piece of property. Suffolk County home values have gone up 19% over the past […]
One of the hottest topics in modern day Long Island real estate—alongside record-high home appreciation and record-low mortgage interest rates—is the shortage of available homes for sale, influencing a growing number of homeowners to consider making a power move before the red-hot sellers’ market turns cold. Most of us know that low housing supply is […]
The first half of 2021 saw a regular pattern of light housing inventory coupled with imposed effects on the number of home sales. In the month of April, existing home sales dropped below the month before but remained up by 20% over last year. Near record-low mortgage rates and rising home price appreciation sparked a […]
