NEPA Real Estate Market Update September 28 2026

CLIENT MARKET UPDATE

Published September 28 2026

Mortgage rates moved above 7 percent this week, Luzerne County adopted a new penalty tied to investor and commercial property contact information, and the county rail sale returned to an unresolved stage. Northeast Pennsylvania industrial property is also offering tenants more choices even as asking rents rise, while a major Archbald data center is moving closer to a final plan filing.

Article Synopsis

This update explains the latest mortgage rate move, a new Luzerne County filing risk for non-owner-occupied property, changes in the industrial leasing market, the unresolved county rail transaction, the next milestone for Project Gravity in Archbald and the current status of Luzerne County housing protections.

Key Takeaways

Buyers should update their preapproval and monthly payment before making an offer.

Many Luzerne County investor and commercial buyers have a 30-day property contact filing requirement.

Industrial tenants have more choices, but asking rents are still rising for functional space.

The county rail buyer and future passenger plans are not final.

Project Gravity is approaching a final plan submission but remains in predevelopment.

1 Mortgage Rates Move Above 7 Percent

Freddie Mac reported that the average 30-year fixed mortgage rate reached 7.03 percent on September 24, up from 6.95 percent the prior week and 6.30 percent one year earlier. The average 15-year rate was 6.42 percent.

What this means for you If you are buying, ask your lender to refresh your monthly payment and price range before you write an offer. If you are selling, a qualified buyer may value closing cost assistance or a rate buydown more than an equal price reduction. The right choice depends on the loan and should be reviewed with the buyer's lender.

Sources Freddie Mac PMMS

2 A New Luzerne County Filing Affects Many Investment Properties

Pennsylvania Act 29 took effect September 18 and requires many buyers of non-owner-occupied real estate to provide contact information to the county chief assessor within 30 days. Luzerne County adopted a $500 fine for knowingly providing false information or knowingly failing to update the required contact. The county fine takes effect October 7. Owner-occupied principal residences are exempt.

What this means for you Investors, landlords, LLCs, trusts and commercial buyers should confirm whether the filing applies and keep the contact current. The official county form asks a business or LLC to name someone who can address maintenance or code problems. Your closing team can help identify the form, but legal questions should go to an attorney or the county assessment office.

Sources Times Leader Official Luzerne County form Pennsylvania Act 29

3 Industrial Tenants Gain Options While Rents Rise

KBC Advisors reported Northeast Pennsylvania industrial vacancy at 7.8 percent in the second quarter, up from 7.1 percent in the first quarter. NEPA asking rent rose 7.5 percent from a year earlier to $8.65 per square foot. Leasing across the broader I-78 and I-81 corridors increased 23 percent from the first quarter.

What this means for you Tenants may have more buildings to compare, especially among older or less specialized properties. Landlords still need to compete on practical features such as power, loading, access, clear height and operating costs. Market averages are a starting point, not a substitute for property specific comparisons.

Sources KBC Advisors Q2 market report

4 The Luzerne County Rail Sale Is Not Settled

Luzerne County Council unanimously vetoed the Redevelopment Authority decision to sell the county rail line to R. J. Corman. The authority scheduled a special meeting for September 29, and county officials said the county takes possession if no sale closes by October 9 under the governing settlement.

What this means for you Freight service, the final buyer and proposed passenger excursions could affect some industrial and downtown properties, but those details are still unresolved. A property should only be described as rail served after confirming usable access and service, and future passenger traffic should not be assumed.

Sources Times Leader veto report Times Leader meeting schedule

5 Project Gravity Approaches a New Milestone

Corscale said on September 22 that it expected to submit final land development plans for Project Gravity in Archbald imminently. The current concept includes five one-story and two two-story buildings. The developer said it is in serious discussions with a hyperscale tenant and plans closed-loop cooling, but no tenant or construction start was announced.

What this means for you A final plan submission would move the project forward and could eventually affect nearby land, contractors and service businesses. Buyers and owners should wait for filed plans, utility commitments, a tenant and a construction schedule before relying on projected economic effects.

Sources WVIA

6 Luzerne County Housing Protections Have Not Been Repealed

County Council postponed reconsideration of its nondiscrimination ordinance while a court challenge to the repeal petition proceeds. The ordinance has not been repealed. It covers housing and includes protections beyond state and federal law, including source of income.

What this means for you Landlords and property managers should use consistent written screening standards and avoid advertising that excludes voucher holders or another lawful source of income. Tenants and owners with property specific questions should seek qualified legal guidance.

Sources WVIA ordinance status Official Luzerne County ordinance

How Revolve Can Help

Planning a purchase, sale, lease or investment in Northeast Pennsylvania? Revolve Real Estate can help you compare current market evidence, confirm local records and build a property specific strategy before you move forward.

Visit Revolve Real Estate

Important Information

Market information is current as of September 28 2026 and may change. This article is for general information only and is not legal, tax, lending or investment advice. Verify property specific facts and consult the appropriate professionals before making a decision.