MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 3/17/2025 – 3/24/2025
Let’s see what the market’s doing this week in the Riverdale area of the Bronx.
Did You Know?
* Plug, baby, plug? Yup, in France 6 new nuclear reactors will be built to boost power supply via nuclear energy. (WSJ)
* In recent months, staffers across corporate America, from Amazon to Dell to Walmart, as well as federal government workers, have been told that their days of working remotely are over, at least, with that employer. Instead, select employees have been called back into offices 5 days a week. A primary driver? Corporate America is paying lots for rent and has long leases and they don’t want that space sitting empty….. Expect real estate prices and demand in walkable/easy-commute areas to rise…. (CNBC)
* 297,885 single-family homes and condos in the United States were flipped in 2024. That was down 7.7% from 322,782 in 2023 and 32.4% from a recent peak of nearly 441,000 reached in 2022. (ATTOM)
* Contemporary scientists agree that there is a hereditary component to personality. Studies of identical twins raised apart pin the genetic contribution at 30% to 50% but we are also shaped by our environment, our peers, our habits and our hobbies. Conscientiousness is the only trait that predicts income and wealth. (Bloomberg)
Mortgage Rate Updates:
The average rate on a 30-year fixed mortgage backed by Freddie Mac rebounded to 6.67% on March 20th, rising from the lowest levels seen since early December for the second straight week, although slightly. “The 30-year fixed-rate mortgage has stayed under 7% for nine consecutive weeks, which is helpful for potential buyers and sellers alike,” said Sam Khater, Freddie Mac’s Chief Economist.
Source: Freddie Mac
