MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 8/25/2025 – 9/1/2025

Did You Know?

DID YOU KNOW?

* Despite 30-year mortgage rates at a relatively steep 6.6% and home buyers grappling with a lack of affordable supply, signs of recovery are emerging in the housing market. New and existing home sales in July topped forecasts as prices eased. Mortgage rates are drifting lower. And heavy incentives from homebuilders are enticing more buyers off the fence. Homebuilder stocks were down 3.6% for the year but reversed in August now up some 13% for 2025. (Bloomberg)

* The White House is considering declaring a National Housing Emergency and is exploring ways to standardize local building and zoning codes and decrease closing costs. (Bloomberg)

* As many in the US grapple with affordability – especially rising food prices – look out for ALDI, the German food market with prices similar and lower than Walmart via selling 90% private label products….Aldi plans to add more than 200 stores in the U.S. in 2025, making it America’s fastest-growing retailer this year after the two big dollar-store chains. …and add more than 800 additional stores by the end of 2028. Housing affordability AND general cost of living affordability will be enormous draws everywhere. Cities and towns that deliver this will thrive.

* The Gold Price soared past $3,500, a new record, mostly due to 
increasing central bank demand, its status as a safe-haven asset during periods of geopolitical and economic uncertainty, expectations of a weaker U.S. dollar, and anticipation of a Fed interest rate cut. The dollar is down 12.6% in 2025 against the Euro in just 8 months. (CNBC)

* More than 16 million people aged 65 and older in the U.S. live alone, roughly 28% of that age group, almost triple the share in 1950. Among the reasons: increased longevity, higher divorce rates among older adults and children more scattered than previous generations. (WSJ)

“For some of the newly wealthy, luxury is 
not about butlers with white gloves and 
golden mirrors, it is about freedom of 
choice” 

– Sea Dream Yacht Club

* COMPASS Silicon Valley’s Mark Wong reports that the market continues in strength: At least 19 properties sold for more than $200,000 above their list prices, with Sunnyvale accounting for 10 of these sales. Impressively, 7 out of these 19 properties—over one-third—achieved $400,000 or more above the asking price. Buyers are still willing to pay $600,000 more to secure their dream homes in today’s market.  (COMPASSinsights)

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac held steady from the previous week at 6.58% as of August 21st, their lowest level since October. “The 30-year fixed-rate mortgage remained flat this week. Over the summer, rates have come down and purchase applications are outpacing 2024, though a number of homebuyers continue waiting on the sideline for rates to further decrease,” said Sam Khater, Freddie Mac’s chief economist.

Source: Freddie Mac