MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 2/9/2026 – 2/23/2026

Did You Know?

DID YOU KNOW?

* (Real Estate)Tax-free Florida?  The Florida House of Representatives overwhelmingly voted to repeal ad valorem real estate taxes for those who declare their Florida home as their domicile and primary residence….
…..except taxes that fund local school districts. Approximately 40-50% of local property tax revenue in Florida goes toward funding K-12 public schools. Local governments will be constitutionally required to maintain police, fire, and other emergency services at 2025 levels. Functions like road maintenance, libraries, parks, and garbage pickup do not have similar constitutional protections. Local property taxes make up nearly half of the total Florida Education Finance Program (FEFP) funding, with specific amounts varying by county depending on property values. As of 2025, approximately 47% of all property parcels in Florida are designated as homesteaded, meaning they are primary residences qualifying for tax exemptions…..will the other 53% – those who own vacation homes or part-time residences/pied-a-terre’s – have to pay more to compensate for this lost revenue? Estimates suggest the cost to local governments is between $14.7 – $18 billion annually in recurring revenue. Will this fuel more growth, full-time residency or discourage pied-a-terre buyers? Potential offsets for this lost revenue under discussion include increased sales taxes, new fees, and shifting the tax burden to tourists, non-homesteaded properties, and new residents. A majority vote by the Senate and the public is needed to proceed….

* US corporate profits in 2025 showed strong growth, with S&P 500 company earnings projected to grow by 10% for the full year compared to 2024. S&P 500 companies show a blended year-over-year earnings growth rate of 13.2% for the fourth quarter.  Median weekly wages for full-time workers in the US in 2025 were 4.2% to 4.8% higher than in 2024.

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage dropped to 6.01% as of February 19th, from 6.09% in the previous week to the softest level since September 2022, according to data from Freddie Mac. “Mortgage rates dropped again this week, now down to their lowest level since September of 2022. This lower rate environment is not only improving affordability for prospective homebuyers, it’s also strengthening the financial position of homeowners. Over the past year, refinance application activity has more than doubled, enabling many recent buyers to reduce their annual mortgage payments by thousands of dollars,” said Sam Khater, Freddie Mac’s chief economist.

Source: Freddie Mac