MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 6/16/2025 – 6/23/2025

Did You Know?

*  Since 2019, the median price for a Montecito (next to Santa Barbara) home has increased by 80% and demand continues primarily because this stretch of the land is one of the longest facing south over the Atlantic ocean, affording sun all day long. (Hollywood Reporter)

* Africanized bees defend their turf with extreme aggression:  they are not found in areas that have a hard freeze during winter but have proliferated in the South all the way from Florida into California. Whenever you come across aggressive bees, the key is not to agitate or swat them but to clear out of the area ASAP…..run. And wisest to cover your mouth and nose as the worst bee sting is one where a bee enters your nose and/or mouth to sting internally.

* Many major tourist destinations, such as New York, Paris and Madrid, have either banned or strictly limited e-scooters that can travel as fast as 30 mph. Many more are on the verge of going scooter-free as the volume of accidents and injuries soared. In the US, e-bicycle injuries doubled every year from 2017 to 2022 and e-scooter injuries rose by 45% each year. (USA TODAY)

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac fell by 3 bps from the previous week to 6.81% as of June 18th, easing further from its highest level in nearly four months seen three weeks ago. “Mortgage rates moved lower, with the average 30-year fixed rate reaching a four-week low. More available inventory to choose from, coupled with this week’s decline in mortgage rates, could be the spark to get potential homebuyers off the sidelines,” said Sam Khater, Freddie Mac’s chief economist.

Source: Freddie Mac