Latest news with #KevinRuck
New York Post
11-07-2025
- Business
- New York Post
Homes are taking longer to sell in these once-popular markets
Some of the hottest markets in the country are showing signs they might be in trouble as homes linger on the market longer—and those formerly flourishing metros aren't unique by any means. Among the 50 largest U.S. metro areas, 39 saw homes staying longer than last year, according to the June 2025 housing market report. All four regions—the South, Northeast, Midwest, and West—saw increases in time on the market, reflecting broader cooling trends, with the sunnier states seeing the longest slowdowns. Advertisement 4 Nashville, TN, tops the list of metro areas that see the longest time-on-the-market increase year over year. Kevin Ruck – Year over year, homes in the South spent eight more days on average on the market; the West showed seven more days; the Northeast three more days; and only the Midwest was essentially the same with one more day, due to its continued affordability, climate migration, and lack of inventory. And just over half (26) of the top 50 markets are now seeing listings sit longer than their pre-pandemic averages, with almost all of them in the South and West, according to the report. It's another indication of the geographic divergence in housing market conditions. Where is it taking the longest to sell? Advertisement These metros are seeing the longest time-on-the-market increases year over year: Nashville, TN (+20 days) Orlando, FL (+15 days) Miami, FL (+15 days) Advertisement Tucson, AZ (+12 days) It's not shocking that two of the four markets are in Florida, given the Sunshine State's issues with higher condo fees in the wake of the Champlain Towers collapse, skyrocketing insurance costs or the difficulty of procuring it, and the increase in extreme weather events. 'It's just returning to normal, how it was pre-COVID,' Jeff Lichtenstein, CEO of Echo Fine Properties in Miami, tells 'Miami has been in the news lately for slowdowns overall, but it's mostly due to the condo market. Homes are still being sold, albeit at a slower pace.' 4 The Orlando, FL, market is a mismatch between what buyers want and what sellers have, according to real estate expert. Kevin Ruck – Advertisement Another factor has entered the mix: President Donald Trump's crackdown on illegal immigration. 'Deportations and some foreigners feeling unwelcome have stopped foreign purchases from occurring,' Lichtenstein says. 'That has slowed down Miami, which is an international market dependent on South and Central America, Canada, and other countries.' Foreigners who would have previously purchased a property for their Florida college-bound children have also been scared off, he says. However, the agent sees hope on the horizon in the form of New York City's liberal Democratic mayoral candidate Zohran Mamdani. Lichtenstein adds that the election 'has already prompted interest from New Yorkers and businesses to escape more taxes, as a lot of the financial firms in New York City on Wall Street have already relocated to Miami.' 4 Miami is also showing signs of a slowdown of condo purchases on the market, while single-family homes continue to be a hot commodity. Earth Pixel LLC. – Branden Rivero of Prop Hunters in Miami Lakes says that while he clearly sees the slowdown in condos, single-family homes are still a hot commodity. 'There's a huge difference between single-family and condo, complete ends of the spectrum,' he tells 'We still lack quality inventory for the single family. Depending on the area, I still have homes sold before they are even listed.' Advertisement And Jill Penman of ONE/Sotheby's International Realty, who sells in South Florida, says that buyers and sellers are caught in a dance of one having little motivation to sell due to being locked in to their mortgage rates and the other being disinclined to shell out COVID-19-era prices. 'They aren't willing to overpay and will ride it out,' she says of these buyers. As for Orlando, local agent Martin Orefice of Rent to Own Labs says inventory is part of the problem—not necessarily the lack of it, but the mismatch between what buyers want and what sellers have. 4 'I do not think [the slowdown] is a bad thing,' says Jill Penman of ONE/Sotheby's International Realty. Eric – Advertisement 'Most of the homes on the market are big and expensive, and most people looking for homes are younger first-time homebuyers, many of whom work at local theme parks or have recently graduated from UCF or other nearby universities,' he tells 'People just can't afford the homes that are on offer. Even retirees, the other big source of growth for us, are looking to downsize and live near water.' Good news for buyers All in all, agents see the slowdown as an opportunity to separate the wheat from the chaff. In a time when the American dream of owning a home is out of reach for so many, this can only be welcome news to buyers as sellers are forced to let go of their inflated prices. Advertisement 'I do not think [the slowdown] is a bad thing,' Penman says. 'It just weeds out real motivated sellers from the ones that are not serious.' The report aligns with that sentiment. 'With growing inventory and homes taking longer to sell, the U.S. housing market is undoubtedly shifting in a buyer-friendly direction,' the report notes, finding more price reductions in 2025 than in any year of data. However, this signals selective discounts, not widespread plummets. In June, the national median list price held at $440,950, essentially flat since the previous month. However, prices are beginning to fall in the West and South, with -8% and -9% declines, respectively.
New York Post
08-07-2025
- New York Post
NYC snubbed in new ranking of the best cities in the US
We're not king of the hill — or top of the heap. In a popular new ranking of the so-called greatest cities in the country, New York failed to crack the top five — losing out to a string of obviously lesser locales. The snub came courtesy of Travel + Leisure's 2025 World's Best Awards survey, which annually asks its well-heeled — and well-traveled — readers to weigh in on their favorites in multiple categories. Advertisement 5 The Big Apple didn't make the grade in a brand-new ranking of the best cities in the United States. Getty Images This year, the 180,000 voters seemed to strongly favor smaller cities — elevating little Santa Fe, New Mexico to first place in the metropolitan marathon with a score of 88.8 out of 100, edging out 12-time blue ribbon winner Charleston, SC. Urban hubs were rated on several criteria — sights/landmarks, culture, food, friendliness, shopping and value. Advertisement For each category, respondents were asked to provide a rating of poor to excellent. Travel + Leisure then calculated the average of the reader responses and gave each city a total score out of 100. Readers dubbed New Mexico's capital city a 'true gem of a place,' praising its inventive cuisine, natural beauty — the metropolis sits at 7,000 feet above sea level at the foothills of the Sangre De Cristo mountain range — as well as its markets and art galleries. Clocking in second was New Orleans, Louisiana (87.06), with readers honing in on the Big Easy's kaleidoscopic culinary scene. 5 Santa Fe, New Mexico was praised for its inventive cuisine and scenic vistas. SeanPavonePhoto – Advertisement Defending champ Charleston, South Carolina dropped two rungs to third place with a score of 87.01. Readers focused on the city's downtown, which retains its period charm, as well as the gorgeous architecture. 'Charleston's laws of keeping every building under the height of its tallest church, keeps the city unique, quaint and charming,' fawned one. 5 An aerial view of Charleston, South Carolina, which was dethroned after 12 years at the top of the rankings. FRANKLIN – Advertisement 5 New Orleans took second place in the new rankings. Kevin Ruck – In fact, T+L readers seemed to be overwhelmingly Southern charmed by cities sitting below the Mason-Dixon line. Rounding out the top five list were Savannah, Georgia (86.64) and the nation's capital-adjacent burg of Alexandria, Virginia (85.26). Meanwhile, for the second year in a row, New York City — home of the most billionaires in the world and TripAdvisor's number one destination for 2025 — managed an embarrassing 8th place in the rankings, with a score of 83.84. 5 Savannah, Georgia, is one of the top 5 cities in the US in 2025, according to Travel + Leisure. Jacob – It notably trailed Greenville, South Carolina, a sleepy Upstate town that has enjoyed a surge of development in recent years. Readers specifically praised NYC's theater scene, with one respondent gushing, 'can't be beat for quality and variety — even the theaters themselves are beautiful.' The best cities in the US in 2025 Advertisement Santa Fe, New Mexico New Orleans, Louisiana Charleston, South Carolina Savannah, Georgia Alexandria, Virginia Honolulu, Hawaii Greenville, South Carolina New York, New York Asheville, North Carolina Chicago, Illinois
New York Post
05-07-2025
- Business
- New York Post
Major housing markets in metro areas rebounding after pandemic
Housing inventory in a significant number of major metropolitan areas hit levels higher than they were before the COVID-19 pandemic, according to a new report from The real estate marketplace said nearly half of America's 50 largest metros had real estate markets whose number of active listings as of May had surpassed pre-pandemic levels. Advertisement The ten metro areas that had the largest jumps in active inventory from their averages in 2017-2019 all posted double-digit percentage increases, according to Eight states had representation among the ten areas that identified as having the 'most dramatic improvement in active inventory,' with Texas claiming three spots within the top-five. Denver, Colorado 6 According to nearly half of America's 50 largest metros had real estate markets with more active listings as of May than they did pre-pandemic. Tricia – 6 Denver was the metro with the largest increase in active housing inventory, with a 100% jump. Kevin Ruck – Advertisement Denver stood out as the metro with the largest increase in active housing inventory from pre-pandemic levels, seeing a 100% jump, the report said. linked the surge in inventory to factors like increased construction and the time homes remain on the market. The city serves as the capital of the Centennial State. Austin, Texas 6 Inventory in Austin was up 69% in May from where it stood before the COVID-19 pandemic. Raymond – Austin is located in Central Texas. Inventory in the metro was up 69% in May from where it stood before the COVID-19 pandemic, according to Seattle, Washington 6 According to the U.S. Census Bureau, over 780,000 people live in Seattle. be free – Advertisement The real estate marketplace pegged Seattle's change in active inventory at 60.9%. More than 780,000 people call the city home, according to the U.S. Census Bureau. Dallas-Fort Worth, Texas 6 Homes in the Dallas-Fort Worth-Arlington area had a median price of $440,000 last month. trongnguyen – Skyline of downtown Dallas, TX on a partly cloudy day. In the Dallas-Fort Worth area, inventory rose 55.5% from pre-COVID, the report said. Homes in the Dallas-Fort Worth-Arlington area carried a median price of $440,000 in May. San Antonio, Texas Advertisement San Antonio's active inventory posted a 58.3% jump from pre-pandemic levels, per 6 San Antonio's active inventory experienced a 58.3% jump from pre-pandemic levels. trongnguyen – The metro areas of San Francisco, Nashville, Orlando, Las Vegas and Tuscon rounded out top-10 when it came to having notched the 'largest gains' in inventory. Their increases compared to before the pandemic ranged from 53.5% for San Francisco to 23% for Tuscon, according to the real estate marketplace. 'In general, we're seeing strong inventory reboards in metros that have built more in the last 6 years,' Chief Economist Danielle Hale said in a statement. 'This milestone underscores both the importance of enabling housing construction and the growing divide in housing conditions across regions, where some markets are rapidly normalizing and others remain stuck in low-supply dynamics.' The national housing market appears to be moving towards being a 'buyer-friendly' one, according to The U.S. had over one million homes on the market in May, a level that the U.S. hadn't climbed above since the winter of 2019, a separate June 5 report found. In March, the real estate marketplace said the U.S. was contending with a supply gap of about 3.8 million homes. Supply and affordability have been two major issues that many homebuyers have been dealing with in recent years.
New York Post
01-05-2025
- Business
- New York Post
180-year-old private South Carolina university closing after $6M fundraising drive fails
A 180-year-old private Christian university in South Carolina is closing at the end of the semester after failing to raise $6 million to keep its doors open. Limestone University officials said that after two weeks of furious fundraising and other actions, they collected just a little over $2 million and had no choice but to close its Gaffney campus and online programs. The school had lost about half its enrollment in the past decade. 'Our Limestone spirit will endure through the lives of our students and alumni who carry it forward into the world,' said Randall Richardson, chair of Limestone University's trustees. 'Though our doors may close, the impact of Limestone University will live on.' Students walk across the campus of Limestone College in Gaffney, SC on Dec. 11, 2006. AP The university stunned its students, alums and community when it announced earlier in April without warning that it was in such bad financial shape that without an immediate infusion of $6 million it would have to close. More than 200 people gave a total of about $2.1 million, but it was not enough. The university said the donations will be returned. South Carolina lawmakers decided not to step in because Limestone University is a private institution. Dozens of private colleges and universities like Limestone have closed in recent years. They are coping with steep declines in enrollment, a consequence of both changing demographics and the effects of the COVID-19 pandemic. Limestone University's online and in-person enrollment had dropped from about 3,200 students in 2014 to about 1,600, according to state higher education data. Limestone University promised to help students transfer to other schools. The closure will also leave several hundred professors and support staff without jobs in Gaffney, a city of about 12,500 people on Interstate 85 between Charlotte, North Carolina, and Spartanburg, South Carolina. About 50 students gathered outside where trustees met Tuesday night and hugged as they got the email announcing the university was closing. Limestone University's online and in-person enrollment had dropped from about 3,200 students in 2014 to about 1,600. Kevin Ruck – Daniel Deneen Jr. of Myrtle Beach played football for Limestone and was jarred that he had to change his plans for his education. 'When we found out the school had $30 million in debt, we all wondered how they were going to get out of it. The last two weeks have been very stressful with finals coming up this week,' Deneen told The Post and Courier. Limestone University, founded in 1845, will hold its final commencement Saturday. Limestone isn't the only college in the region to announce it is closing this month. St. Andrews University about 150 miles away in Laurinburg, North Carolina, will close Sunday after the spring semester. The school is a branch campus of Webber International University.
New York Post
21-04-2025
- Business
- New York Post
A South Carolina college faces closure after nearly two centuries — unless it scrounges up $6 million by April deadline
A liberal arts university in South Carolina with nearly two centuries of history could begin the process of closing by the end of April unless it finds a staggering $6 million for emergency funds. Limestone University, a private Christian liberal arts college in Gaffney — previously known as Limestone College, was founded in 1845 as one of the first women's colleges in the country. It could now move towards online-only instruction or shuttering altogether on April 22 before the semester ends. The Board of Trustees at Limestone University shared an urgent message on its website last week announcing the emergency, citing nationwide enrollment decreases, rising costs, and other structural challenges liberal arts colleges disproportionately face. Limestone University, formerly known as Limestone College, could move towards closing or online-only instruction if it doesn't come up with $6 million. Kevin Ruck – 'The Board's priority is to preserve the Limestone mission of education and service on our campus in addition to online. But without this financial lifeline, we will have no choice but to move all operations online, which means closing our physical campus,' said Randall Richardson, Chair of the Limestone University Board of Trustees. The indicated $6 million that the board said is needed would help cover operational costs and resources to create long-term solutions, according to the press release. The university took a particularly hard hit during the 2022-2023 fiscal year and operated at a $12.6 million deficit — over $10 million more than the previous cycles, according to ProPublica. Students and locals alike are beginning to panic as the thought of Gaffney without Limestone University may soon become a reality. 'The psychological and emotional toll will be equally profound. Limestone has been a point of pride, tradition, and inspiration for our residents. It has opened doors for countless local students and families. Many of them were first-generation college students and helped shape dreams into realities. As a proud alumni, I will forever love and honor Limestone University,' Gaffney Mayor Lyman Dawkins wrote on Facebook. Limestone University was founded in 1845 as one of the first women's colleges in the country. ASSOCIATED PRESS Others were blindsided by the trustees' announcement, including university staff. 'I'm just a bit scared. We don't really know like the next steps of what's gonna happen or fully what's going on but we just have to take it one step at a time and figure out what we're gonna do for ourselves and how we're gonna say goodbye to each other if we have to,' sophomore Annabelle Dougherty told WJBF. Some are even taking to social media for donations, with many students posting videos on TikTok and asking for influencers like to lend a hand. Limestone University has already been in contact with the NCAA and will be hosting a 'reverse college fair' on April 25 so that current students can explore other universities.
