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Home Sales Drop Across New York as Mortgage Rates Remain Above 7%, Stock Market Continues it's Growth, Inflation, Fed Meeting to Give Clues for U.S. Market Direction

Martin Eiden | June 22, 2024

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New and Noteworthy

Home Sales Drop Across New York as Mortgage Rates Remain Above 7%

Home sales dropped across New York State in May as mortgage rates continued to remain above seven percent, according to the housing report released today by the New York State Association of Realtors. Closed sales dipped 4.1% from 8,826 homes to 8,465 homes in YoY comparisons. (Read More)

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Stock Market Continues it's Growth

The S&P 500 gained 0.6% for the week; the Dow Jones Industrial Average 1.5% for the week; the Nasdaq increased by 0.39%.

With one week left in June, the S&P 500 has posted a year-to-date gain of 14.6%, The Nasdaq Composite is up 17.8%, and the Dow Jones Industrial Average is up 3.9%

Full analysis and more market details can be found here.

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Team News

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One Global Advisory:

Official Launch Party

Last night, The Martin Eiden Team and Kelly Robinson Team at Compass NYC officially merged to form

One Global Advisory. 🌍

It truly was a night to remember.

A huge thank you to everyone who attended, the incredible staff and vendors that made for a seamless luxurious night, to DJ Hello Lightfoot, performer G'latto, to our team for getting our hands dirty and putting in all the prep work, and to our clients for the support as we continue to provide better and better service to everyone we work with.

We are thrilled for this new brand merge and can't wait to show you what we are capable of now that we are One Global Advisory.

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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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