New York proposes 75-day buying delay for homes

New York Governor Hochul has proposed a law that would prevent private equity firms from buying homes for the first 75 days they are on the market. This aims to give regular buyers a better chance to purchase homes. If approved, this law would be the first of its kind in the United States. It could change the real estate landscape in New York, where homes are currently selling for high prices. In February, the average home sale price in Western New York reached $271,864, a 12% increase from the previous year. The housing market remains competitive, especially during the summer months.