Five Questions with HGAR President Rey Hollingsworth Falu

This year’s Lobby Day comes at one of the more crucial times for Realtors in memory as the industry faces a host of economic and social headwinds, such as a critical housing shortage, an affordability crisis, inflation, tariffs, domestic and international political discord and potential reform to the State Environmental Quality Review Act to name just a few.

With this momentous trip on the horizon, Real Estate In-Depth posed some questions to HGAR President Hollingsworth Falu on what he hopes Lobby Day will accomplish as state lawmakers and New York Gov. Kathy Hochul continue to debate a host of pressing issues as part of state budget negotiations that have extended weeks past the April 1 deadline.

Real Estate In-Depth: HGAR is planning to send a large contingent to Albany on Tuesday, April 21st as part of NYSAR's Lobby Day. What are the key issues HGAR plans to raise with state lawmakers?

Hollingsworth Falu: “Our message in Albany is going to be clear: New York has to make it easier to create housing, preserve housing, and expand access to homeownership. We plan to bring more than 100 Realtors to Albany on April 21st to make that clear. 

For HGAR, that starts with housing supply and affordability. Across our region, we are still dealing with a market where prices remain elevated because inventory is simply not keeping up with demand. We also want lawmakers focused on practical policies that support fair housing, protect private property rights and remove unnecessary barriers that make it harder to build or rehabilitate homes.

We intend to advocate for stronger education and training for local planning and zoning boards, state-level incentives that encourage the development of for-sale housing, not solely rental units, and drive collaboration among Westchester municipalities to codify and centralize individual building department data. We also support policies that help restore existing housing stock, encourage responsible development, and create more predictability for buyers, sellers, property owners and the professionals serving them.

At the local level, HGAR’s own 2026 priorities have emphasized housing transparency, affordability, fair housing enforcement, commercial vitality and reducing cost pressures such as rising insurance and regulatory burdens. That all fits into the broader message we’ll bring to Albany—New York needs more housing, more certainty, and smarter rules that help communities grow responsibly.”

Real Estate In-Depth: As 2026 HGAR President, why do you believe it is important for association members to participate in the Lobby Day program?

Hollingsworth Falu: “Because advocacy is not somebody else’s job. It belongs to all of us.

Lobby Day gives Realtors the opportunity to explain, directly to lawmakers, what policies look like on the ground. Our members see in real time what buyers are struggling with, what sellers are facing, how renters are being affected, and where housing policy is working or not working.

I also think it is important because Realtors are often the bridge between public policy and everyday people. We are not just talking about transactions. We are talking about whether a young family can buy their first home, whether a senior can downsize, whether a community can attract employers because housing exists for working people.

For HGAR specifically, participation matters because our mission is to empower members, advocate for the profession, and adapt to changing markets. When our members show up in Albany, we are demonstrating that real estate professionals are engaged civic leaders who care deeply about housing opportunity, fair housing and community stability. Advocacy is one of the clearest ways we live that mission.”

Real Estate In-Depth: One of the key issues being debated in Albany is reform of the SEQRA process. Where does HGAR stand on this issue, are the governor's proposed changes enough and is reform of SEQRA viewed as a path to help solve the housing shortage crisis in New York State?

Hollingsworth Falu: “HGAR supports meaningful SEQRA reform.

We believe environmental review absolutely matters, but the current process too often creates delay, uncertainty, and cost, even for projects that already meet local zoning and are unlikely to have significant environmental impacts. That is not a smart way to respond to a housing shortage.

Governor Hochul’s ‘Let Them Build’ proposal is an important step in the right direction. The administration has proposed exempting certain lower-impact housing projects from additional SEQRA review, while still requiring compliance with zoning, flood-risk restrictions, and state environmental protections. The proposal also calls for clearer timelines and a two-year limit for environmental impact statements on more complex projects. Those are constructive reforms because predictability matters.

Are those changes enough by themselves? No. SEQRA reform is not a silver bullet. New York’s housing shortage is also tied to infrastructure, local approvals, construction costs, financing and the difficulty of bringing older housing stock back online. However, SEQRA reform is absolutely part of the solution, because every unnecessary year of delay raises costs and reduces the number of homes that actually get built.

So, our position is: yes, reform is necessary; yes, the governor’s proposal is a serious and welcome start; and yes, if Albany is serious about addressing the housing shortage, it has to reduce avoidable delays without weakening real environmental protections.”

Real Estate In-Depth: Entering the second quarter of 2026, the regional housing market has been struggling with slower sales but higher home values. Where do you see the markets heading in the prime spring selling season?

Hollingsworth Falu: “I think the spring market will be active, but disciplined.

The data tells a pretty clear story: demand is still there, but affordability and supply constraints are shaping behavior. Across the broader OneKey MLS region entering 2026, closed sales were down year-over-year, but prices were still rising, inventory remained tight, and pending sales were improving. That tells me buyers are still engaged, but they are being more selective and rate sensitive.”

In our HGAR markets, the picture is local and nuanced, which is why consumers need strong Realtor guidance. Westchester single-family prices were up sharply year-over-year through February, the Bronx also showed meaningful price growth, Putnam remained steady with gains in both sales and price, and Rockland continued to show price resilience even as inventory patterns shifted. Orange was a little softer on single-family pricing in the most recent monthly snapshot, which is a reminder that this is not one uniform market. What ties the region together is that well-priced homes are still moving, and inventory is not loose enough to produce broad price declines.

So, my expectation for spring is continued pent-up demand, competitive conditions for good listings, and a market that rewards pricing discipline and preparation. I do not see a supercharged frenzy everywhere, but I do see a healthy, serious spring market where knowledgeable agents can create real value.”

Real Estate In-Depth: What piece of advice do you have for buyers and sellers at the moment?

Hollingsworth Falu: “For buyers, my advice is: be prepared, be patient, and be decisive. Have your financing lined up, know your budget, and understand that when the right property appears, act decisively. Mortgage rates remain well above the lows consumers got used to a few years ago. Freddie Mac’s 30-year fixed averaged 6.46% on April 2, so buyers need to focus not just on price, but on payment, taxes, insurance and long-term affordability.

For sellers, my advice is: do not confuse a strong market with a guaranteed result. Today’s buyers are informed and payment conscious. If you price correctly, prepare the property well, and work with a Realtor who understands your local market, you can absolutely do well this spring. But overpricing is one of the fastest ways to lose momentum.

For both sides, the biggest advice is to lean on professional guidance. This is still a market where local expertise matters enormously. The headlines may say one thing, but conditions can vary dramatically from one county, city, neighborhood, or property type to the next"