MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 5/12/2025 – 5/19/2025

Did You Know?

* Are Data Centers experiencing NIMBY-ism?  Would YOU want a data center in your backyard? Some do, some don’t…. Data centers, while providing essential services, can negatively impact neighborhoods through increased energy consumption, water usage, noise pollution (60db-plus), and potential environmental concerns. They can also lead to changes in land use, property value fluctuations, and visual impacts like loss of scenic views. Data centers typically employ 15-50 people depending on their size. Data centers often qualify for big tax breaks. (WSJ-plus)

* Young workers up to the age of 24 are coming to the office an average of three days a week, higher than all other age groups, per a recent global study of 12,000 employees by real estate firm JLL. (CNBC)*  The  stalled, proposed tax-cut bill won approval from a key congressional committee last night to advance toward possible passage in the House of Representatives later this week. Most calculate it will not lower the US’s debt or deficits. (WSJ)

* Around 43% of all neighbor complaints in Japan at apartments are noise related. After debuting its first soundproof apartments in 2000, Livlan now operates nearly 900 units across 37 buildings in and around Tokyo and intense soundproofing is the biggest draw that laso commands premium pricing. Noise-canceling headphone sales are projected to reach $41 billion by 2031, up from $15.9 billion in 2023. Noise-cancelation can also now be found in cars and even fabrics. The other day I visited a building that boasts windows that they claim to be 100% soundproof, better than those found at airport hotels! Triple glazed windows, combined with argon gas or other inert gas fills, are effective at reducing noise due to their multiple layers of glass and the sound-dampening properties of the gas between the panes. They weigh lots too! (Bloomberg-plus)

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac rose to 6.81% on May 15th, up from 6.76% the previous week, reflecting a rise in long-term Treasury yields amid easing global trade tensions and reduced demand for safe-haven assets. Investor sentiment improved following a 90-day mutual tariff reduction agreement between the US and China, which helped ease fears that prolonged trade disputes could push the US economy into recession. “The 30-year fixed-rate mortgage remained below the 7% threshold for the 17th consecutive week. Stable mortgage rates coupled with moderately rising inventory are attracting homebuyers into the market, with purchase application activity up 18% from last year,” noted Sam Khater, Chief Economist at Freddie Mac

Source: Freddie Mac