MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 5/4/2026 – 5/11/2026

Did You Know?

* Realtor.com is operated by Move, Inc., ……which is a subsidiary of News Corp. News Corp acquired Move, Inc. in November 2014 for approximately $950 million. While it is the official listing site for the National Association of Realtors (NAR), the association does not own or operate the site, but rather licenses the brand to Move, Inc…..now Realtor.com/Move Inc. NOW….As of May 2026, Zillow and Realtor.com have partnered to syndicate “Zillow Preview” listings, allowing pre-market homes to be displayed across both major platforms starting this summer….after months of Zillow decrying COMING SOON listings…. (re-read this 3X and tell me your head did not explode….mine did!)

* A flood of new money/fortunes is coming to the Bay area: 
OpenAI allowed employees to sell up to $30 million worth of shares each in a recent financing, making them some of the earliest financial winners of the artificial-intelligence boom. More than 600 current and former employees sold their shares in a single stroke, collectively making $6.6 billion. (WSJ)

* Ireland, Norway, Luxembourg, Belguim and Switzerland the world’s TOP 5 most productive countries per capita. (GDP per hour worked) Ireland has lots of multi-national corporations primarily due to its low 12.5% corporate tax rate, highly skilled English-speaking workforce, and stable membership in the European Union (EU).

* The 400 richest people in America are wealthier than ever, with a combined net worth of $6.8 trillion…..that’s roughly 4% of all US wealth. ALL US billionaires combined have a net worth of close to $9 trillion….or 5.25%. The Top 1% have a combined wealth of roughly 29% of all US wealth and the Top 10% have a net worth starting around $1.6million

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage rose by 7bps from the previous week to 6.37% as of May 7th, extending the rebound from the earlier period, according to data compiled by Freddie Mac. The increase tracked a rebound in long-dated Treasury yields during the period as a surge in energy prices placed inflationary risks on the upside, potentially warranting a hawkish Federal Reserve. “Recent data points to slightly better conditions for buyers with a boost in new-home sales, median new-home prices being down to their lowest level since July 2021, and higher inventory than in recent years. Together, these trends could modestly ease affordability pressures through the spring homebuying season.” said Sam Khater, Freddie Mac’s Chief Economist.

Source: Freddie Mac