Move With Agent Scully

US housing inventory reaches 6-year high
As someone deeply immersed in every shift of our real estate landscape, I’ve watched with interest as housing inventory has reached a six-year high: new home listings are up 2.6% to 393,178, the highest inventory we’ve seen since 2020. While buyer activity remains subdued—pending sales holding steady and closed sales dipping 0.5%—the median home price has climbed to $398,596, with mortgage rates ticking up to 6.67%. For those navigating the market, this means buyers are starting to regain some negotiating power in certain areas—a dynamic I’m particularly attuned to as a Master Negotiator. Whether you’re considering your next move or just keeping an eye on the market, understanding these trends is key to making informed decisions. Having served Long Island’s diverse buyers and sellers for over two decades, I’m committed to guiding my clients through every market cycle with insight and dedication.

US Mortgage Costs Hit 14-Month High
This past quarter brought both challenges and opportunities for those navigating our ever-evolving real estate landscape. By late Q3, the typical US homebuyer faced a monthly payment of $2,600—the highest in 14 months—as rising mortgage costs combined with resilient median sale prices. With the national median home-sale price up about 2% year-over-year to $399,000, affordability remains a real concern, and we’re seeing its impact: pending sales have stayed flat month over month and dipped compared to last year.

Mortgage-purchase applications have edged slightly lower, and while new listings dipped in the wake of the holidays, they’re still modestly ahead of the same period in 2025. What’s become increasingly clear is the importance of strategic pricing—roughly 21% of active listings made price cuts, with sharper pricing drawing more interest, while overpricing left many buyers hesitant. Inventory is showing signs of improvement, with active supply up about 2% from last year to 1.5 million homes, and overall supply nearing four months—still short of what we’d consider a balanced market.

Having spent over two decades guiding clients through shifting markets like this, I know firsthand how nuanced decisions—especially around pricing—can make all the difference. As a Master Negotiator and SRES specialist, I’m deeply committed to helping clients find their footing, whether you’re buying, selling, or strategizing for your next move here on Long Island.

I recently had the pleasure of working with Suzanne Sully with Charles Rutenberg Realty on a real es...
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Vacation Homes Make Up 3.5% of New York State Housing
It's fascinating to see how vacation homes shape the housing landscape—especially here in New York State, where they account for 3.5% of all housing. Across the U.S., the number of vacation homes dropped from 5.47 million in 2018 to 4.74 million in 2024, now making up 3.3% of the housing market. Timeshares, interestingly, are enjoying a 79.9% occupancy rate—outpacing traditional hotels. Florida may have the highest number of vacation homes, but Maine and Vermont lead in concentration. As someone deeply connected to Long Island and the broader New York market, I find these shifts offer valuable perspective for anyone considering investment, retirement options, or finding that perfect seasonal getaway. My expertise in navigating every facet of real estate helps my clients make choices that align with both lifestyle and long-term value.

US Buyers Navigate 14-Month Cost High
Navigating today’s real estate landscape demands both knowledge and strategy—especially with monthly payments for US buyers reaching $2,600 by late Q3, the highest in 14 months. With mortgage rates climbing and the national median sale price up about 2% year-over-year (now hovering around $399,000), affordability is clearly top of mind for many. It’s no surprise that pending sales have held steady month-to-month and slipped compared to last year, while mortgage-purchase applications have dipped slightly.

As someone who’s spent over two decades guiding clients through every twist and turn of the market, I’ve seen firsthand how a thoughtful pricing strategy can make all the difference. In fact, about 21% of active listings made price cuts recently, and those sharper, well-calibrated prices tend to draw more interest—whereas overpricing often leads to hesitation. Even with new listings slowing a bit around the holidays, inventory has improved: active supply is up 2% year-over-year at 1.5 million homes, giving buyers nearly four months of options, though we’re still not quite at balance.

Whether you’re buying, selling, or simply evaluating your options, understanding these nuances is key to making confident decisions in a shifting market. My deep roots on Long Island and commitment to making real estate dreams a reality mean I’m always ready to help you find the right path forward.

Could U.S. Rates Stay Higher in 2027?
As someone deeply rooted in Long Island real estate for over two decades, I’m closely watching the evolving landscape of interest rates—and what it could mean for all of us in the years ahead. With persistent inflation and long-term Treasury yields remaining elevated, a swift return to the historically low rates we’ve seen isn’t guaranteed. The Federal Reserve continues to weigh inflationary pressures against indicators of a slowing economy, creating a unique climate for buyers, sellers, and investors alike. If higher long-term yields persist, borrowing costs may stay elevated, affecting not just homebuyers, but also those looking to invest or refinance—across residential and commercial real estate. In this environment, a balanced and informed approach is more important than ever as interest-rate uncertainty, fiscal dynamics, and inflation keep shaping our financial markets. My commitment is to help you navigate these complexities with the care and expertise I’ve built over years serving our Long Island community.