Nanuet Homes and Condos

Better Homes & Garden Rand Realty. Michael Truiano 845-480-2366, Nanuet NY 10954

Inflation and Interest rates

Inflation was hotter than anticipated in September while initial unemployment claims are trending higher.

Consumer Inflation Remains Hot But Is Hope Ahead?

The Consumer Price Index (CPI), which measures inflation on the consumer level, showed that inflation increased by 0.4% in September, double the amount economists expected. On an annual basis, inflation declined from 8.3% to 8.2%, though this was also above estimates.

The real story here was Core CPI, which strips out volatile food and energy prices. It also came in higher than forecasted with a 0.6% rise. As a result, year over year Core CPI increased from 6.3% to a hotter than expected 6.6%.  

The increase in prices last month was broad-based, with shelter, rent, food and medical care services costs all rising in September. While gasoline prices declined 4.9% in September, they are 18.2% higher than the same time last year.

What’s the bottom line? Besides causing higher prices, inflation is the arch enemy of fixed investments like Mortgage Bonds because it erodes the buying power of a Bond’s fixed rate of return. If inflation is rising, investors demand a rate of return to combat the faster pace of erosion due to inflation, causing interest rates to rise as we’ve seen this year.

However, when we look at how inflation is calculated, there is hope that it may start to move lower in the months ahead.

Inflation is calculated on a rolling 12-month basis, which means that the total of the past 12 monthly inflation readings will give us the year-over-year rate of inflation. For example, when the data for September 2022 was released last week, it replaced the data for September 2021 in the calculation of annual inflation. Going forward, the inflation readings that will be replaced are much higher, so if we see lower monthly readings this fall and next year, the annual rate of inflation would then move lower.

Producer Inflation Also Higher Than Expectations

The Producer Price Index (PPI), which measures inflation on the wholesale level, rose 0.4% in September, coming in hotter than expectations. On a year-over-year basis, PPI decreased from 8.7% to 8.5%. While this moderated, it was also higher than anticipated. Core PPI, which strips out food and energy prices, was in line with estimates with a 0.3% increase. The annual figure declined from 7.3% to 7.2%.

What’s the bottom line? We still have not seen a meaningful decline in producer inflation. This can lead to hotter consumer inflation levels as producers have two options: reduce margins or pass along higher costs to consumers.

In addition, 30% of small business owners reported that inflation was their single most important problem in operating their business in September, per the National Federation of Independent Business Small Business Optimism Index. However, compensation and wages did moderate while owners expecting higher selling prices fell to the lowest level since September 2021. Both of these developments could signal moderating inflation in the months to come.

Fed Minutes Convey Hawkish Tone

The minutes from the Fed’s September meeting were released last week and they showed that the Fed believes it needs to continue its tightening policy even as the labor market slows. The Fed acknowledged that inflation was declining more slowly than anticipated and “many participants emphasized that the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action.” 

The hawkish tone to the minutes shows the Fed’s priority is taming inflation, even if it means economic growth, consumer spending and the labor market could be hindered.

Remember, the Fed has been under pressure since late last year to address soaring inflation, and in response they have hiked their benchmark Fed Funds Rate five times so far this year, including their latest aggressive 75 basis point hike at their meeting on September 21. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates. When the Fed hikes the Fed Funds Rate, they are trying to slow the economy and curb inflation.  

Initial Jobless Claims Rise for Second Consecutive Week

The number of people filing for unemployment benefits for the first time rose by 9,000 in the latest week, as 228,000 Initial Jobless Claims were reported. This followed a 29,000 increase in Initial Claims in the previous week. Continuing Claims, which measure people who continue to receive benefits after their initial claim is filed, were essentially unchanged, rising 3,000 to 1.368 million.

What’s the bottom line? Although the level of Initial Jobless Claims is still low, the increase in the last two weeks is significant and the trend in Initial Claims now appears to be higher. This report can be the “canary in the coal mine” to show that the job market is starting to soften, as an increase in the pace of firings is a precursor to a higher unemployment rate.

What to Look for This Week

Crucial housing reports will be released beginning Tuesday with the National Association of Home Builders Housing Market Index, which will give us a near real-time read on builder confidence for this month. Housing Starts and Building Permits for September follow on Wednesday, while September’s Existing Home Sales will be reported on Thursday.

The latest Jobless Claims numbers remain important to monitor when they are released as usual on Thursday. Plus, October’s manufacturing data for the New York and Philadelphia regions will provide important updates on that sector when it is reported on Monday and Thursday, respectively. 

Technical Picture

Mortgage Bonds ended last week trading in an extremely wide range between the floor at last Thursday’s low of 96.98 and overhead resistance at 99.54. The 10-year eclipsed the 4.0% level and ended last week trading at around 4.02%, meaning it has a bit room until reaching the next ceiling at 4.075%.

Advertisement

Hudson Valley State of the Market First Quarter real estate report

This is typically the time of year we send out our First Quarter market reports. For this report, we are breaking our regular format to give our best analysis of the housing market due to the coronavirus, the resulting economic fallout and the Essential Services Order. We took the data from the first quarter and the company’s 40-year experience in the real estate industry to get a sense of where the market might
be going.

So how is the market? The pace of new inventory coming onto the market has understandably slowed down. Agents are offering video-conference listing consultations for potential sellers. Buyers that need to move right now are relying on virtual showings and video tours to accomplish their house hunting. Deals that are in contract are still closing, but experiencing some delays. We anticipate closings will be
down 50% for the second quarter but we don’t foresee values decreasing in the upcoming months. If we have a return to “semi-normal operations” pent up demand will fuel the summer market.

I want to express best wishes to everyone in our community during this challenging time and our hopes that you are staying safe as we all try to “flatten the curve.” If you have any questions about the attached report or real estate in general, feel free to call me at 845-480-2366. I’m always happy to chat.

Click the image below to access the full First Quarter Real Estate Report.

Hudson Valley State of the Market First Quarter real estate report

Virtual Showings

Its certainly not business as usual and lots of buyers have put moving to a new home on the back burner. But some of my clients, for various reasons, need to sell or buy right now. We are doing so with new protocols for safety and innovative marketing including virtual showings. Stay safe my friends!

virtual showing

Nanuet Mother Daughter Home for Sale

Just Listed: 7 Apollo Ct, Nanuet

nanuet mother daughter real estate house for sale

Welcome home to this Beautiful Raised Ranch in the Award-Winning Nanuet School District. Super convenient location, close to transportation, highways, shops, and this home is located on a dead end street which only adds to its privacy and value! The main level of this home boasts a bright and sunny living room, dining area with sliding glass doors leading to the amazing three season room, eat-in-kitchen also with sliders to the three season room, three bedrooms and a full bath. The lower level features a “legal second kitchen” with a separate entrance , family room, powder room, office/workshop, laundry room and a spacious master bedroom with vaulted ceiling, walk in closet and master bath. Plenty of room in this home for your extended family or guests. You’ll enjoy outdoor entertaining in the fenced in level backyard or going for a dip in the in ground pool complete with diving board! This is a home not to be missed, book your showing today, you won’t be disappointed!!!

Call 845-480-2366 for info and appointments.

View all other Rockland County Mother Daughter Homes for Sale Here

 

150 Branchwood Lane, Nanuet (Treetops)

“I hope whoever buys this will enjoy it as much as I do. Its a happy place.” -current owner.

150 Branchwood Lane, Nanuet. Treetops section of the Hamlets.

150 Branchwood Lane Nanuet. Treetops section of the Hamlets.

Move in ready! Beautiful three-level END UNIT Townhouse in Treetop/the Hamlets. Located within the Clarkstown school district , this pretty home offers a new kitchen w/granite counter-tops, stainless steel appliances, meticulously tiled back-splash, under cabinet lighting and recessed lighting. Renovated bathrooms perfect for pampering. Bright and cheery living room with more recessed lighting, crown molding and sliders to private deck. Fully finished lower level offers lots of options. Potential third bedroom, office or playroom. Garage parking. Enjoy all the amenities the Hamlets has to offer: children’s playground, community pool, tennis courts, basketball court and clubhouse, Guest parking is plentiful nearby. Enjoy the outdoors in this pet friendly community. Request an appointment for Vista at Kingsgate Nanuet condo in the hamletsGreat location. Close to NYS Thruway, bus to NYC, Train Station, Shops at Nanuet, Garden State Parkway and NJ border. Lots of shopping nearby including Costco and Lowes.
Call 845-480-2366 for showings and information.

VIEW ALL ACTIVE TREETOPS CONDOS AND TOWNHOMES HERE. 

VIEW ALL NANUET CONDOS AND TOWNHOUSES HERE. 

2018 Nanuet Real Estate Half Time Report

2018 NANUET REAL ESTATE HALF TIME REPORT

It’s time for my Nanuet Half Time Report. On the following page you can review calculations based on Nanuet homes sold between January 1, 2018 and June 30, 2018. Obviously, this is not a substitute for a full home evaluation, which I can also provide if you ever need. But this is a great snapshot of what is going on in the Nanuet market right now. I have also highlighted some of my current Nanuet listings if you know anyone looking to buy.

 

The early part of the year was a full blown seller’s market. Homes were selling within days of hitting the market, multiple offers received and even selling over asking price! Limited inventory and high demand dictated the market in the first half. Larger homes, however, have not seen the same appreciation. You can see that three bedroom homes have shot up in value this year while the average five bedroom home remains flat.

 

Are you thinking of selling your home? Now may be the ideal time. Buyers often pay a premium this time of year to ensure they are in a new home for the September school year. As always, you can call me at 845-480-2366 with any real estate questions.

 

2018 NANUET REAL ESTATE HALF TIME REPORT

  • The average Nanuet SOLD price in the 1st half was $473,000.
  • This was an 11% increase from 1st half 2017. ($425,000)
  • On average, Nanuet homes sold for 99% of asking price.
  • On average, Nanuet homes sold for $224 per square f
  • The highest Nanuet sale YTD: 21 Blue Heron Rd, $730,000.

Average sold price by home style:

Colonial $593,000
High Ranch/Bi-level $457,000
Capecod $396,375
Split level $424,000
Ranch $387,500

Average Nanuet Sold price by # of bedrooms:

3 bedrooms $387,000
4 bedrooms $495,234
5 bedrooms $562,400

 

 

Michael Truiano
BHG Rand Realty
Michael.truiano@randrealty.com
(cell) 845-480-2366

 

Thinking of Selling? Contact Mike Truiano, Nanuet’s #1 Listing Agent in 2017

8 North Lexow Avenue Nanuet

This foreclosure just hit the market in Nanuet.  Great condo alternative. Needs work. Possible flip or perfect for handy first time home buyer. Awesome location, quiet street with very little through traffic. Walking distance to Nanuet Train station. Close to I287, easy access to Tappan Zee Bridge, Palisades Parkway, NJ border, Garden State Parkway and Palisades Parkway. Just a few blocks away from Shops at Nanuet. (Shopping, dining, movie theater, gym etc)    CLICK IMAGE FOR FULL LISTING DETAILS.

8 North Lexow Avenue Nanuet

 

8 north lexow nanuet house for sale

 

view nanuet listings

8 Linda Court Nanuet – Vista, Hamlets

8 Linda Court Nanuet – Vista, Hamlets

vista hamlets nanuet condo

Spring is in the Air! Are you looking for a great location with a fabulous community close to EVERYTHING? Cute and cozy location with a fireplace to set the mood. One bedroom with good sized walk-in closet, high-ceilings, private laundry room in your own space, kitchen and living room. Unit is flooded with natural sunlight from the sky-lights. Garage parking with a separate room downstairs for storage or any other use you can imagine! This Wont last, Schedule your showing today

Request an appointment for Vista at Kingsgate Nanuet condo in the hamlets

 

 

2016 Nanuet real estate statistics

 

2016 Annual Nanuet Real Estate Report

 

The results are in for 2016 real estate statistics in Nanuet.  These calculations are based on Nanuet home sales between January 1, 2016 and December 31, 2016. Obviously, this is not a substitute for a full home evaluation, which I can also provide if you ever need. Just call me at 845-480-2366 and I would love to discuss any real estate questions you might have. Below you can find different pricing categories but let’s start with an overview of the 2016 Nanuet real estate market.

  • The average Nanuet SOLD price in 2016 was $417,737.
  • This was a slight decrease from the 2015 average ($426,596)
  • The avg. ASKING price on 2016 Nanuet homes sold was $429,642.
  • On average, homes that did sell sold for 97% of asking price.
  • The average SOLD price per square foot was $208/sq-ft.
  • The avg. Nanuet home took 171 days on the market to sell.
  • We also tracked the average sales price back to 2002.
2002 2003 2004 2005 2006 2007 2008
$348,537 $427,161 $460,548 $535,928 $515,236 $512,738 $479,216
2009 2010 2011 2012 2013 2014 2015
$446,084 $439,112 $404,090 $396,215 $401,025 $436,168 $426,596

 

 

Mean avg. by square footage range:                        

900-1199 sq ft            $307,700
1200-1499 sq ft            $359,877
1500-1799 sq ft            $366,238
1800-2099 sq ft            $396,368
2100-2399 sq ft            $476,922
2400-2699 sq ft            $513,000
2700-2999 sq ft            $605,442
3000-3299 sq ft            $634,000

Mean avg. sold price by home style:

Colonial $489,038
High Ranch/Bi-level $426,929
Capecod $366,464
Split level $402,916
Ranch $341,550

 

 

2016 Nanuet avg. sold price by # of bedrooms:

3 bedrooms $367,044
4 bedrooms $438,967
5 bedrooms $502,454

 

2016 nanuet real estate prices

350 South Middletown Road, Nanuet

Charming vintage Colonial with old world character. Covered wraparound porch. Bring your rocking chair and watch the sunset. Huge, flat yard for family activities. Radiator heating. This centrally located home offers large country kitchen with corian counters. Ductless Central Air on first level. Formal dining room. Bonus walk up attic perfect for extra storage or ready for finishing touches. Corner property with oversized driveway located on quiet side street. (Cottage Ave) No car? No problem! Walk to train or buses to NYC…easy access to all. Come see CNN/Money Magazine #7 ranked place to live in the entire country! (Clarkstown, NY) Nanuet schools ranked 9/10. Stone’s throw away from Shops at Nanuet (Shopping, restaurants, gym movie theater.) Walk to community built Highview Playground. Near Palisades Parkway exit 7, NYS Thruway exit 14 park & ride and Garden State Parkway. Ready for immediate occupancy.

350 South Middletown Road, Nanuet Real estate for sale

Request an appointment for 105 Briar Road, Nanuet Colonial

Or Call Listing Agent Mike Truiano 845-480-2366 for details and availability.