The WPJ

New York City

Residential Rents in U.S. Upticked for Second Consecutive Month in May

According to Redfin, median U.S. asking rent rose 0.8% year over year in May 2024 to $1,653 -- the highest level since October 2022. That's the second consecutive increase (rents climbed 0.9% year over year in April) following 11 months of decreases. Rents rose 0.5% on a month-over-month basis.

U.S. Metros Most Exposed to Housing Downturns Led by New York City, Chicago and Inland California

Based on ATTOM's newly released Special Housing Risk Report, California, New Jersey and Illinois once again had the highest concentrations of the most-at-risk markets in the country, with some of the biggest clusters in the New York City and Chicago areas, as well as inland California. Less-vulnerable markets remained spread mainly throughout the South and Midwest.

U.S. Homes Sales Fell to One of Lowest Levels on Record in May

According to Redfin, U.S. home sales fell 1.7% month over month in May 2024 on a seasonally adjusted basis and dropped 2.9% from a year earlier.

Almost 33 Million U.S. Homes at Risk of Potential Hurricane Damage in 2024

Based on CoreLogic's recently released 2024 Hurricane Risk Report, over 32.7 million residential properties from Texas to Maine are at risk of moderate or severe damage from hurricane-force winds. The total reconstruction cost for these properties is estimated at $10.8 trillion.

New York City Property News












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