NEPA MARKET UPDATE | CLIENT EDITION
NEPA Real Estate Market Update September 14 2026
September 14 2026
Higher mortgage rates changed buying power this week, while Luzerne County reviewed tax-incentive rules and a possible sale of its rail holdings. Housing and development proposals in Pittston Township and Scranton also deserve attention, with several details still awaiting final decisions.
Article Synopsis
This article explains the September 10 mortgage-rate increase, proposed changes to Luzerne County development tax breaks, a recommended $10 million rail transaction, the official Stauffer Pointe annexation facts, and a group of Scranton zoning applications that could add housing and storage uses.
Key Takeaways
Buyers should refresh preapprovals and compare monthly payments before touring at the top of their price range.
Commercial buyers should verify tax-abatement terms instead of assuming an incentive will transfer with a property.
The proposed rail transaction could benefit freight and visitor-oriented locations, but it was not final as of publication.
Existing Stauffer Pointe homes and homes under construction would remain in Pittston Township under the published plan.
Mortgage Rates Reduced Buying Power
Freddie Mac reported that the average 30-year fixed mortgage rate reached 6.76 percent on September 10, up from 6.71 percent the prior week and 6.35 percent a year earlier. The average 15-year rate reached 6.09 percent.
What this means for clients A preapproval prepared earlier in the summer may no longer reflect the same purchase price or monthly payment. Buyers should ask their lender to rerun the numbers. Sellers with slower listings may find that a closing-cost credit or rate buydown helps more than an equal price reduction, depending on the buyer's loan.
Source Freddie Mac
Luzerne County Reviewed Stronger Tax Break Rules
Luzerne County Council advanced an ordinance that would standardize applications and reporting for future Local Economic Revitalization Tax Assistance requests. Proposed disclosures included investment, job creation, wages, benefits, infrastructure needs, other incentives and ongoing performance. The measure was scheduled for further review on September 22.
What this means for clients Tax abatements can materially affect a development budget and commercial property value. Buyers should obtain the actual approval, expiration date, reporting duties and transfer terms, then compare the deal with and without the incentive.
Source Dallas Post
A Rail Sale Could Affect Industrial and Downtown Sites
An independent committee recommended Reading and Northern Railroad's proposal to acquire about 56 miles of Luzerne County rail holdings. The $10 million proposal included $7 million at closing and $3 million in track rehabilitation, along with expanded freight service and proposed passenger excursions linking Wilkes-Barre, Pittston and Jim Thorpe.
What this means for clients Reliable freight access can improve the usefulness of industrial property, and passenger service could support hospitality and retail near a downtown stop. A property should be marketed as rail served only after confirming a usable siding or service agreement. The recommended transaction was not yet final.
Source Dallas Post
The Stauffer Pointe FAQ Clarified Which Properties Are Affected
Pittston Township published an FAQ stating that the proposed transfer concerned only undeveloped Stauffer Pointe land. Existing homes and properties already under construction would remain in Pittston Township with the same township taxes and services. The undeveloped area was expected to include market-rate townhomes and single-family homes priced above $350,000.
What this means for clients Current owners can use the township's primary-source explanation instead of relying on social media summaries. Future buyers should still verify the municipality, tax parcel, services and homeowners association documents for the specific property they are considering.
Source Pittston Township FAQ
Scranton Considered Several New Property Uses
Scranton's September 9 zoning agenda included 14 townhouses at 1501 Farr Street, a seven-room boarding home for traveling healthcare workers and other professionals at 1010 Monroe Avenue, a short-term rental at 1021 Monroe Avenue, an apartment building at 616 Pittston Avenue and self-storage at 1740 North Main Avenue.
What this means for clients The applications point to continued interest in infill housing, temporary professional housing and storage. An application is not an approval. Buyers, neighbors and investors should review the written zoning decisions and any conditions before relying on a proposed use.
Source Scranton Zoning Hearing Board recording and agenda
How Revolve Can Help
Revolve Real Estate can help buyers, sellers and investors evaluate financing, municipal records and local market evidence before moving forward with a Northeast Pennsylvania property.
Important Information
Market information is current as of the publication date 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.