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The week in real estate market reports
A weekly feature bringing you the industry’s latest intel
The latest batch of reports from around the industry found that pending home sales hit a nine-year high in April and average wages for New York City construction workers fell flat in 2014.
Residential
April 2015 pending home sales: National Association of Realtors
Pending home sales in April rose for the fourth consecutive month and hit a nine-year high. Sales rose 3.4 precent from the previous month are up 14 percent year-over-year. Read the full report here.
2015 US mortgage rates: Freddie Mac
U.S. mortgages rates rose to its highest levels so far in 2015 during the final week of May. The average rate for 30-year fixed rate mortgage was up 3.87 percent, a 3.84 percent increase from the previous week. Read the full story here.
Manhattan luxury contracts May 18-24: Olshan Realty
Twenty-six contracts were signed for Manhattan apartments priced $4 million and above during the third week in May. The week’s biggest contract was a fourth-floor apartment at 823 Park Avenue. The nine-room apartment had an asking price of $13.7 million. Read the full report here.
Other
2014 NYC construction: New York Building Congress
The average wage for construction workers in the private sector rose less than one percent in the first nine months of 2014, and have hardly budged since 2012. Read the full story here.