MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 3/2/2026 – 3/9/2026
Let’s see what the market’s doing this week in the Riverdale area of the Bronx.
Did You Know?
DID YOU KNOW?
* Are we in an “E-shape” Economy with three tiers of consumer behavior instead of two as in a K-shaped Economy? A middle group is distinguishing itself, and those people’s behavior is starting to show that they’re experiencing growing signs of strain. The top tier is spending and performing well. The bottom tier is taking on much more debt…..and those in the middle are behaving cautiously and nervously. (CNBC)
* A shortage of skilled tradespeople, largely due to experienced workers aging out of the field, is not only boosting the number of job opportunities in some industries but also the pay…..could this further impact housing affordability? About 20,000 electricians retire each year, and there are 80,000 job openings…..AI-proof jobs too! (CNBC)
* Philadelphia’s employment grew 13.6% since 2020, outperforming the 11.7% average of the nation’s 25 most populous counties. This recovery rate significantly exceeds Philadelphia’s own historical performance and places the city ahead of major metropolitan areas, including San Francisco (2.4%), Washington (7.6%), Seattle (7.7%), and Los Angeles (10.7%). Only New York’s 17.6% growth rate surpassed Philadelphia’s among cities that experienced the steepest pandemic-related job losses. (CenterCityPhila)
* During the month of March, some parts of the United States will add over an hour-and-a-half of sun by the end of the month. (USA TODAY)
Mortgage Rate Updates:
The average rate on a 30-year fixed mortgage edged higher to 6% as of March 5th, from the softest level since September 2022 of 5.98% in the previous week, according to data from Freddie Mac. “Mortgage rates held steady at 6% this week, hovering near their lowest level since 2022. In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners. As a result, refinance activity is up, and purchase applications are ahead of last year’s pace,” said Sam Khater, Freddie Mac’s chief economist.
Source: Freddie Mac
