$366M Tower Joins Manhattan Foreclosure Wave
Manhattan’s foreclosure market just broke a 15-year record, with luxury penthouses and office towers hitting the auction block at an accelerating pace.
The borough saw filings surge 28% as a $9.7 million Metropolitan Tower penthouse and a $366 million Midtown office building joined the distressed property queue.
Even Brooklyn’s priciest properties couldn’t escape the wave, including a $4.8 million Bedford-Stuyvesant brownstone that went to auction after years of financial trouble.
Top stories of the week
Click any headline to read the full story.
2025 NYC Foreclosure Report
Two-family homes remained the leading residential property type for NYC foreclosures for the third consecutive year. Specifically, there were 540 new two-family foreclosures, 12% more than in 2024, followed by 507 single family foreclosures, 8% more than the year prior.
Pending Home Sales Plunge across the US. Midwest Sees Worst Sales on Record
The December downturn in pending sales occurred in all four regions, from already low levels, but was particularly pronounced in the Midwest, where sales collapsed by 14.9% seasonally adjusted to a new record low.
Mortgage demand drops 8.5%, as interest rates swell to the highest level in 3 weeks
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, increased to 6.24% from 6.16%, with points increasing to 0.55 from 0.54, including the origination fee, for loans with a 20% down payment.
Unsurprising Surge in Refi Demand Pushes Mortgage Apps Past 3 Year High
Refinance demand again led the way. The Refinance Index climbed 20% from the previous week and was 183% higher than the same week one year ago, marking the strongest weekly pace since September.
2026 Rental Affordability Report: Buying vs. Renting
Median prices on single-family homes rose at a greater rate than median rent on a three-bedroom property in 69% of the 364 counties in this report. The counties with the biggest affordability gaps in favor of home ownership were Collier County, FL; Suffolk County, NY; Taylor County, TX ; Mobile County, AL and Harrison County, MS.
Zillow’s Best Markets for Home Buyers in 2026: Where Buyers Have Leverage and Upside
Indianapolis ranks No. 1 among 50 metros for buyer-friendly housing conditions in 2026. Atlanta, Charlotte, Jacksonville and Oklahoma City round out the top five most buyer-friendly housing markets.
